Leading cryptocurrency exchange, Bybit has announced its partnership with a regulated digital asset service provider and custodian backed by Laser Digital and Blockstream Komainu. In a blog post today, Bybit confirmed the development, revealing its plan to join the Komainu Connect collateral management platform.
As revealed, this partnership enables institutional clients to trade around the clock while keeping their assets securely in custody. It also enables assets to be held with a regulated, third-party custodian while simultaneously being tradeable in exchange. It’s worth noting that it regular automated off-exchange settlement eliminates the need to pre-fund on-exchange.
Meanwhile, Komainu has continued to expand its Komainu Connect platform by integrating with exchanges including Bybit, lenders, and brokers, utilising a range of advanced technologies. These integrations enable clients to establish fast, seamless connections, providing access to an extensive network of market counterparties.
Benefits of Bybit partnership with Komainu
Some of the key benefits of the Bybit integration with Komainu Connect include full mirroring of all delegated assets in collateral wallets on the exchange. Another advantage is the off-exchange settlement process, which streamlines transactions and enhances efficiency, eliminating the need to pre-fund on the exchange. The partnership also offers transparency and legal clarity as all assets are held in on-chain, bankruptcy-remote segregated wallets.
Other benefits of the partnership with Komainu and Bybit include collateral wallets which allow clients to benefit from dedicated, client-by-client wallets. Clients also enjoy comprehensive asset coverage, which supports a list of institutional-grade assets.
Paul Frost Smith, the Co-CEO of Komainu has expressed delight at his firm’s partnership with Bybit. According to him, Komainu delivers exactly what investors need to act on market opportunities without compromising on security or compliance. Smith added that this partnership also strengthens Komainu’s roster of trusted exchanges while also providing a safer and more efficient trading environment for active investors.
Yoyee Wang, the head of business to business unit at Bybit highlighted the exchange’s priority as ensuring trust and security for their clients. He added that working with Komainu is another step forward in giving in to their clients’ needs, offering secure, regulated custody alongside the flexibility and scale expected.
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