Business Wire

Prime Trust Joins the OTCXN Network

Jaa

OTCXN, a blockchain-powered capital markets infrastructure company, announced that it has signed Prime Trust to serve as a neutral, third-party custodian of assets for trading entities and exchanges that use OTCXN technology to facilitate clearing and settlement of OTC block trades and cross-exchange trading. Prime Trust is a chartered, regulated and insured trust company with full fiduciary powers and AML/KYC procedures supporting both US and international clients.

The biggest problem for institutions in the cryptocurrency space prior to OTCXN’s launch has been the lack of a clearing and settlement solution that eliminates trading counterparty and settlement risk while connecting all global liquidity providers and exchanges. OTCXN’s multi-custodian solution solves this problem and delivers global liquidity access with a single account at the preferred custodian of a trading desk or exchange.

Prime Trust will play a key role in supporting the expansion of the OTCXN network by providing clients with safe, capital efficient access to global liquidity through OTCXN’s market leading trading platforms.

“Bringing Prime Trust on-board to use OTCXN’s Custodian Desk platform to support our mutual institutional clients trading digital assets such as cryptocurrencies over OTCXN’s unique network, is an exciting development. Prime Trust is one of only a few regulated US entities offering neutral custody services in Fiat and Cryptocurrencies. They stand out for their experienced management team with deep securities and fiduciary industry backgrounds, hot and cold hardware-based wallets, and client asset safety,” stated Rosario M. Ingargiola, CEO and Founder of OTCXN.

Prime Trust is a financial institution dedicated to the blockchain industry that, as an SEC Qualified Custodian, provides custody of tokens, Fiat and other alternative and traditional assets, as well as funds processing, AML/KYC compliance, and transaction technology for the new digital economy. As a blockchain-driven trust company, its mission is to provide exchanges, portals, platforms, brokers, real estate syndicators and direct-issuers with best-in-class solutions to seamlessly meet the needs of their securities offerings, as well as their secondary markets.

“OTCXN is an exciting and well thought-out institutional-grade digital asset trading network unlike anything we’ve worked on until now,” says Scott Purcell, Prime Trust’s CEO and Chief Trust Officer. “OTCXN’s strategic technology aligns perfectly with our continued mission to support an ever-evolving digital economy; and, we are excited to play a role in bringing more infrastructure to the industry.”

The OTCXN solution has strong appeal to custodians that hold crypto-assets for institutional clients because the cryptocurrency is always held in deep, cold storage, rather than being held at an exchange or being in-flight, as it is when traded over-the-counter. The OTCXN approach significantly increases safety for institutional clients and reduces administrative overhead for custodians with clients engaged in active trading. The solution provides custodians with continuous net settlement reporting, with point-in-time snapshot features and workflow tools to support periodic net settlement movements between custodial accounts.

OTCXN has launched its OTC Block Trading platform which delivers an institutional RFQ-style workflow with instant, atomic clearing and settlement of trades against provable assets at a custodian, and no initiator settlement risk. Later this year, OTCXN will be launching its high-performance matching engine, LiquiMatch, as both a Dark Pool and Central Limit Order Book-style exchange for cryptocurrencies. Clients of custodians on the network can access liquidity across all OTCXN trading platforms with a single account at a custodian.

Any OTC desk, liquidity provider, fund or exchange can join the OTCXN network by holding a portion of Fiat/Crypto trading assets at a custodian, including Prime Trust.

About OTCXN

OTCXN is a capital markets infrastructure company using asset digitization, proprietary blockchain technology, real-time collateral management and an array of institutional trading platforms to organize global liquidity and make it tradable via a single account at any custodian on the network. OTCXN has developed the first technology platform that eliminates counterparty and settlement risk without the use of balance sheet and credit, and without becoming a counterparty to transactions. For more information, visit www.otcxn.com and @OTCXN.

Contact information

Lawrence Litzky
Head of Communications
+1 415-636-9041
larry@otcxn.com

Tietoja julkaisijasta

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Tilaa tiedotteet sähköpostiisi

Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.

Lue lisää julkaisijalta Business Wire

Arch Insurance Announces Strategic Leadership Changes19.10.2018 16:10Tiedote

Arch Insurance today announced that Matt Shulman will assume the newly created role of CEO, Arch Insurance North America, effective January 1, 2019. In this role, he will lead Arch Insurance’s operations in the United States and Canada. He will report to Nicolas Papadopoulo, Chairman and CEO of Arch Worldwide Insurance Group. Mr. Shulman, who has more than 20 years of experience in the insurance industry, has been with Arch Insurance since 2009 and has served as the President and CEO of Arch Insurance Europe since 2016. “Matt brings significant U.S. and international experience to this role. Under his leadership, together with our senior team, Arch Insurance will continue to enhance our value proposition to our customers through a robust, diversified product portfolio, creative solutions and excellent service,” Mr. Papadopoulo said. Arch Insurance has also created a new organizational structure with three Chief Underwriting Officers (CUO) dedicated to specific lines of business. These

Takeda to Present Results from Phase 3 ALTA-1L Trial Highlighting Intracranial Efficacy of ALUNBRIG® (brigatinib) Versus Crizotinib in First-Line Advanced ALK+ Non-Small Cell Lung Cancer19.10.2018 15:00Tiedote

Takeda Pharmaceutical Company Limited (TSE: 4502) today announced that intracranial efficacy data from the Phase 3 ALTA-1L (ALK in Lung Cancer Trial of BrigAtinib in 1 st Line) trial showed improved intracranial progression-free survival (PFS) and intracranial objective response rate (ORR) with ALUNBRIG (brigatinib) compared to crizotinib among anaplastic lymphoma kinase-positive (ALK+) non-small cell lung cancer (NSCLC) patients. Data for these secondary endpoints will be presented in a poster discussion at the European Society for Medical Oncology (ESMO) 2018 Congress on Friday, October 19 at 2:00 p.m. CET in Munich, Germany. These results further support ALUNBRIG as a potential treatment for adults with ALK+ locally advanced or metastatic NSCLC who had not received a prior ALK inhibitor. ALUNBRIG is currently not approved as first-line therapy for advanced ALK+ NSCLC. “ALK+ NSCLC often spreads to the brain, so having options that can clearly demonstrate efficacy both in the brain an

Vertex Receives European CHMP Positive Opinion for KALYDECO® (ivacaftor) to Treat Patients With Cystic Fibrosis Aged 12 to <24 months With Certain Mutations in the CFTR Gene19.10.2018 14:54Tiedote

Vertex Pharmaceuticals (Europe) Limited today announces that the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) adopted a positive opinion for KALYDECO® (ivacaftor) to include the treatment of people with cystic fibrosis (CF) aged 12 to <24 months who have at least one of the following nine mutations in their cystic fibrosis transmembrane conductance regulator (CFTR) gene: G551D, G1244E, G1349D, G178R, G551S, S1251N, S1255P, S549N or S549R. If the European Commission issues a favorable adoption of the EMA CHMP opinion for the extension of indication, ivacaftor will be the first and only medicine approved in Europe to treat the underlying cause of CF in patients aged 12 to <24 months, who have specific mutations in the CFTR gene. “Cystic fibrosis is a chronic, progressive disease that is present at birth, with symptoms often occurring in infancy, so early treatment is crucial to deliver the best possible outcomes for patients,” said Reshma Kewalr

Tradeshift Announces Q3 2018 Results19.10.2018 14:00Tiedote

Tradeshift, the leader in supply chain payments and marketplaces, today announced results from the third quarter of 2018, marking the tenth quarter in a row of successive growth and beating targets. Tradeshift’s third quarter growth stats announced today include: YoY revenue grew 400 percent (trailing 12 months) YoY new bookings grew 284 percent YoY gross merchandise volume (GMV) grew 262 percent New total contract value grew by $47M in Q3 Tradeshift’s customer roster continued strong growth this quarter adding 27 new customers, including Hertz, Shiseido, ECU, and Fortune 500 leaders in retail apparel, agriculture, engineering and construction, hospitality, travel and food delivery. Tradeshift also expanded its app ecosystem by adding a key partnership with Coface, a global credit insurer. Coface has announced a new app solution on the Tradeshift platform offering risk and business information services to help businesses make decisions by ensuring greater financial transparency between

Schlumberger Announces Third-Quarter 2018 Results19.10.2018 14:00Tiedote

Schlumberger Limited (NYSE: SLB) today reported results for the third quarter of 2018. (Stated in millions, except per share amounts) Three Months Ended Change Sept. 30, 2018 Jun. 30, 2018 Sept. 30, 2017 Sequential Year-on-year Revenue $8,504 $8,303 $7,905 2% 8% Pretax operating income $1,152 $1,094 $1,059 5% 9% Pretax operating margin 13.5% 13.2% 13.4% 36 bps 15 bps Net income - GAAP basis $644 $430 $545 50% 18% Net income, excluding charges & credits* $644 $594 $581 8% 11% Diluted EPS - GAAP basis $0.46 $0.31 $0.39 48% 18% Diluted EPS, excluding charges & credits* $0.46 $0.43 $0.42 7% 10% North America revenue $3,189 $3,139 $2,602 2% 23% International revenue $5,215 $5,065 $5,147 3% 1% North America revenue, excluding Cameron $2,572 $2,546 $2,086 1% 23% International revenue, excluding Cameron $4,559 $4,387 $4,430 4% 3% *These are non-GAAP financial measures. See section below entitled "Charges & Credits" for details. Schlumberger Chairman and CEO Paal Kibsgaard commented, “Our third

Alibaba’s Robust Ecosystem Supercharges 2018 11.11 Global Shopping Festival19.10.2018 13:15Tiedote

Alibaba Group Holding Limited (NYSE:BABA) today officially kicked off the 2018 11.11 Global Shopping Festival in China’s capital, promising this year’s mega-event will be the largest-ever in terms of scale and reach. Businesses within the Alibaba ecosystem will jointly offer hundreds of millions of consumers an enriching experience that supports their pursuit of high-quality products, entertainment and fast, reliable services. The Festival will also demonstrate the enthusiasm of consumers and brands embracing Alibaba’s New Retail strategy – the convergence of online and offline retail through technology. “This year marks the 10th anniversary of 11.11. On the back of China’s explosive digital transformation, the Festival’s astounding growth over the past decade has powered the steady growth of quality consumption sought by Chinese shoppers. The evolution also showcases the development of the Alibaba ecosystem over time expanding well beyond e-commerce,” said Alibaba Group CEO Daniel Zha

Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.

Tutustu uutishuoneeseemme