Bitfinex Agrees MOU to Explore Integration with Komainu Connect for New Remote Custody Solution

By working with Bitfinex, the Komainu Connect integration is expected to allow institutions to trade on one of the world’s most liquid markets for crypto assets, while keeping their assets with a custodian. One of the key benefits institutions will gain from this integration is the ability to enjoy uninterrupted trading on Bitfinex without frequent on-chain asset transfers, as well as the security offered by Ledger’s Tradelink

The integration would be the latest remote custodian solution offered by Bitfinex, and follows similar arrangements it has with Zodia Custody and Copper, which have both proved popular with institutional customers.

Traders with assets on Komainu Connect and a verified account on Bitfinex will be able to  allocate a portion of their custody-held assets for trading, initiating a lock at Komainu. Simultaneously, Komainu Connect will notify Bitfinex through an API connection. Upon approval, Bitfinex will grant the trader a balance equivalent to the locked amount, enabling seamless trading with the designated assets.

“Our collaboration with Komainu Connect reflects our commitment to expanding secure trading options for our customers and provides an additional layer of security for institutional investors by allowing them to leverage Komainu’s regulated custody solution while still accessing Bitfinex’s robust trading environment,” said Paolo Ardoino, CTO of Bitfinex.

As compliance gains increasing prominence as regulations evolve, cryptocurrency exchanges bear a crucial responsibility to safeguard customer assets. Bitfinex’s collaboration with Komainu Connect highlights the exchange’s proactive approach to compliance.

To learn more about Bitfinex, please visit https://www.bitfinex.com/?refcode=0bC4Lljc.

About Bitfinex

Founded in 2012, Bitfinex is a digital token trading platform offering state-of-the-art services for traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market and margin trading for a wide selection of digital tokens. Bitfinex’s strategy focuses on providing unparalleled support, tools, and innovation for experienced traders and liquidity providers around the world. Visit www.bitfinex.com to learn more.

Forward-Looking Statements

Certain statements in this announcement may be forward-looking in nature. The words “believe,” “expect,” “estimate,” “could,” “should,” “intend,” “may,” “plan,” “seek,” “anticipate,” “project” and similar expressions among others, generally identify “forward-looking statements,” which speak only as of the date the statements were made. The matters discussed in these forward-looking statements are subject to a number of risks, trends and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied in the forward-looking statements. None of Bitfinex nor any other person is responsible for updating or revising any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

The post appeared first on Bitfinex blog.