Omniex announced it has extended its integration with top industry custody providers to include Kingdom Trust, a pioneer of crypto custody and one of the longest running custody providers in the space.
As part of its mission to make the end-to-end crypto investment and trading process as seamless as possible for clients, Omniex has been enhancing its post-trade processing component, the Omniex Settlement Center (OSC), for the OTC market.
“Whereas on-exchange the crypto settlement process is taken care of by the exchange, in the OTC space it has been like going back to the Stone Age, an all-manual process that has been a thorn in the side of clients,” says Omniex CEO and co-founder Hu Liang. “With continued development, the OSC will be vital to supporting and growing crypto’s OTC markets. Our recent partnership with Kingdom Trust is a key step toward our vision.”
Omniex offers its all-institutional client base portfolio and risk management, trade execution, investment operations, and compliance solutions. Its execution management system (EMS) offers connections to the major crypto exchanges as well as key OTC providers. As part of this partnership with Kingdom Trust, mutual clients will be able to view and analyze assets held at the custodian.
Kingdom Trust, which has $12 billion in assets under custody, was the first regulated financial institution to offer qualified custody for digital asset investments. In August, the firm added insurance coverage from Lloyd’s of London syndicates to cover any physical theft or destruction of custodied assets.
“We are very excited to partner with Omniex. The Omniex platform is innovative and well positioned for the Kingdom Trust institutional client portfolio,” said Matt Jennings, CEO of Kingdom Trust. “The powerful and seamless structure of the Omniex environment will deliver an exceptional experience to our firms’ mutual clients, further strengthening the growth of the institutional crypto market.”