Integral launches PrimeOne as crypto brokerage for trading and settlement

Integral has launched PrimeOne, a crypto prime brokerage, on the Codex Layer-1 EVM blockchain. The platform combines both trading and net settlement services into a single account, enabling its users to sign up once with a single AML/KYC check, without requiring credit scoring. 

PrimeOne’s technology enables its customers to manage their assets continuously, with real-time adjustments of margins between wallets denominated in USD stablecoins as open positions change. The trading is limited according to the participants’ margin balances.

PrimeOne to streamline crypto trading and reduce credit risk

According to Integral, the platform enables users to trade with crypto liquidity providers and exchanges through one account. This structure contrasts with traditional systems, where asset management and margin adjustments are often handled separately.

The platform aims to mitigate credit risk in the cryptocurrency markets by utilizing stablecoins as a medium for facilitating real-time margin trading. The trading limit is also automatically adjusted according to the margin balance of both sides, which reduces the possibility of credit problems between the two parties.

Harpal Sandhu, founder and CEO of Integral, weighed in on the topic, noting that as more institutions explore the crypto ecosystem, the biggest challenge will be simplifying credit accessibility for them. 

The CEO shared data concerning Integral’s operations, highlighting that it has more than $1 trillion in monthly foreign exchange trading. Sandhu argued that the increased adoption of the system is due to its high technology for digital assets. He further explained that PrimeOne helps minimize risk, costs, and complexity while providing more liquidity, financial gain opportunities, and boosting confidence in crypto trading.

Scotte Moegling, head of Business Development for Digital Assets at Virtu Financial, also commented on the situation. He expressed their commitment to support the growth of blockchain technology. Concerning PrimeOne, Moegling acknowledged that the crypto prime brokerage has demonstrated its power for everyone. 

He concluded that with this technology from Integral, investors can acquire better prices with reduced risk, opening up significant growth opportunities in crypto trading on this platform.

Industry leaders highlight new crypto tools for traditional institutions

Peter Wisniewski, a Managing Partner of Europa Partners, believes that PrimeOne is crucial for the future of credit in cryptocurrency markets. According to him, it’s a well-set-up system that will provide them with better liquidity access, enabling them to trade more profitably and efficiently while reducing costs.

Wisniewski also mentioned that this will help them get better returns and unique opportunities in the cryptocurrency market. Integral’s technology, originally developed for financial markets, is now being applied to digital assets and cross-border transaction services for banks, brokers, and asset managers.

In related news, crypto exchange Binance is launching its own crypto-as-a-service solution for licensed banks, brokerages, and stock exchanges seeking to offer cryptocurrency services to their clients.

Binance announced on Monday that its white-label solution enables traditional financial institutions to access the company’s spot and futures markets, liquidity pools, custody services, and compliance tools without needing to develop their own infrastructure from scratch.

Through this setup, a bank or broker can provide crypto trading on its existing platform even without prior experience in crypto operations. Binance provides the tools, including wallet management, compliance features, and fund transfer systems, to ensure the service operates efficiently and securely.

Several banks and stock exchanges already offer clients access to crypto exposure through stocks in crypto treasury companies and spot crypto exchange-traded funds. However, Binance’s crypto-as-a-service could allow them to offer their clients a more direct way to buy and sell crypto.

Join a premium crypto trading community free for 30 days - normally $100/mo.