To improve the efficiency and security of the exchange of digital assets, Standard Custody & Trust Company, LLC has teamed up with GSR Markets Limited. Standard Custody, which is overseen by the New York Department of Financial Services, brings to the table its experience as an accredited custodian. GSR adds to this by providing reliable trading solutions and has a decade of experience in the liquidity of digital assets.
In order to reduce counterparty risk, a major problem in the market for digital assets, the collaboration develops a cutting-edge escrow solution. The partnership seeks to facilitate immediate and secure asset settlement by segregating collateral from trade partners and depositing it in a secure escrow account. According to Standard Custody’s CEO Jack McDonald, the agreement considerably lowers clients’ credit and settlement risk.
The relationship would be essential in raising market standards, said Rich Rosenblum, Co-Founder and President of GSR. “This innovation not only secures the existing marketplace but also encourages further institutional adoption of digital assets,” he pointed out.
Standard Custody, a division of PolySign, Inc., provides a platform with distributed trust mechanisms and end-to-end encryption for protecting private keys. A variety of stakeholders, such as token issuers and institutional investors, can access liquidity through GSR, which is firmly established in every significant area of the cryptocurrency ecosystem.