Archax, the first FCA regulated digital asset exchange, broker and custodian, today announced the official launch of its custody service. Targeted at professional investors and institutions, the solution provides custody for a broad range of digital assets – from cryptocurrencies to NFTs to digital securities – as well as traditional securities and client cash.
Commenting on the launch, Graham Rodford, CEO and Co-Founder of Archax, said: “The recent turbulent times in crypto markets emphasise the need for credible and secure custody solutions, run by businesses with strong corporate governance, and with all the right controls and processes that institutions both need and expect. We do just that – operating our service using a fully segregated and insolvency-remote structure to ensure client assets are always held and backed 1 to 1 and so are safe. Although some assets, like cryptocurrencies, are unregulated, we operate our solution in the same regulated way, wherever possible, regardless of asset type, so ensuring unparalleled levels of service and security for all types of digital asset.”
Archax is providing the service in partnership with METACO, the market-leading provider of digital asset custody and orchestration technology to global financial institutions and is deploying the technology on the IBM Cloud in order to leverage the confidential computing capabilities of IBM’s highly secure digital asset infrastructure.
“We are really excited to be rolling out this Archax service, leveraging the technology we have been building and the regulations that we have put in place. We have been running the custody service in stealth mode for a while now and are already holding client assets, including crypto, cash, digital and traditional asset classes. This will soon be followed by the launch of our exchange for both regulated digital assets and unregulated crypto too” concludes Rodford.
The Archax digital asset ecosystem has been built with institutions in mind and designed to allow them to raise funds through digital issuances, as well as custody and trade a variety of digital assets, such as digital securities, NFTs and cryptocurrencies.
Photo by alevision.co on Unsplash
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