News
Finery Markets and Nonco Partner to Enhance Institutional Cryptocurrency Trading
Summary
- Finery Markets, a non-custodial crypto ECN, has partnered with Nonco, a digital asset company and OTC provider.
- Nonco has executed its first transaction through FM Liquidity Match, Finery Markets’ platform.
- Finery Markets enables over 100 global companies to access OTC liquidity for digital assets.
- The partnership aims to improve trading settings and provide better pricing for crypto institutions’ assets.
- In 2023, Nonco raised $10 million in seed funding from multiple investors.
- Finery Markets serves clients in over 30 countries and has received SOC 2 Type 1 certification.
Antique marketsa leading non-custodial cryptographic electronic communications network (ECN), has announced a strategic partnership with Noncoa digital asset company.
This collaboration marks a step forward in providing institutional clients with better access to over-the-counter (OTC) liquidity in the rapidly evolving cryptocurrency market.
Founded in 2019, Finery Markets has quickly become a key player in the institutional cryptocurrency trading space. The company’s platform enables over 100 global digital asset firms to tap into OTC liquidity through partnerships with leading liquidity providers, prime brokers and custodians across Europe, Asia, Africa and the Americas.
This vast network has positioned Finery Markets as a crucial bridge between traditional financial institutions and the cryptocurrency market.
The partnership was inaugurated with the successful execution of the first transaction by Nonco via FM Liquidity Match, Finery Markets’ advanced platform.
FM Liquidity Match combines a cutting-edge matching engine with instant access to deep liquidity across 150+ cryptocurrencies, offering institutional clients a robust solution for their trading needs.
Konstantin Shulga, CEO of Finery Markets, emphasized the timeliness of this partnership, saying:
“Nonco joins Finery Markets at an especially exciting time, as we have seen double-digit growth in demand from institutional players for quality crypto liquidity.”
Shulga stressed that the collaboration would help crypto institutions aiming to improve their trading setup and receive better prices for assets while minimizing counterparty risks.
Nonco, which operates as a market maker for major cryptocurrencies and stablecoins, brings extensive experience to the partnership. The company secured $10 million in seed funding in 2023, led by Valor Capital and Hack VC, with participation from prominent investors such as Morgan Creek Digital, CMCC, and Theta Capital. This financial backing underscores the industry’s confidence in Nonco’s approach to institutional cryptocurrency trading.
Fernando Martinez, CEO of Nonco, expressed optimism about the partnership, saying:
“The combination of both companies’ technologies is expected to catalyze further innovation and enable us to offer the most competitive pricing to Finery Markets’ clients.”
Martinez also highlighted Nonco’s commitment to providing value-generating trading services to its global customer base, viewing the partnership as an excellent opportunity for business expansion and market reach.
Finery Markets’ non-custodial trading infrastructure offers a comprehensive suite of features designed to meet the complex needs of institutional clients.
These include pricing intelligence, integrated Best Execution, full trade transparency, flexible settlement options, robust position and counterparty risk management and comprehensive reporting tools. The platform’s pre-, intra- and post-trade functionality provides clients with a holistic trading experience.
The company’s commitment to security and compliance is demonstrated by its status as the first crypto ECN to receive SOC 2 Type 1 certification. Finery Markets was recently selected as one of the top 50 rising stars in the Deloitte Technology Fast 50 competition, highlighting its rapid growth and innovation in the fintech sector.