Mercury integrates FCA-regulated LP Enigma for cryptocurrency trading

Rick Steves

Clients can create turnkey, branded OTC offerings for brokers, exchanges, bitcoins ATMs, and other sell-side firms that provide a 24/7 trading platform to their clients using Enigma Securities’ liquidity.

Mercury Digital Assets has partnered with Enigma Securities, a leading FCA regulated cryptocurrency liquidity provider, to provide their clients access to Enigma Securities’ institutional-grade liquidity.

Mercury’s automated OTC platform solution and order and execution management system will give now give clients access to Enigma Securities’ liquidity. The integration supports access to over 40 digital assets that can be settled quickly in crypto or major fiat currencies, like USD, EUR, GBP and more.

Mercury clients will be able to use Enigma’s post-trade settlement offering (no pre-funding required), along with settlement flexibility for either same day settlement or delayed settlement.

In addition, clients can create turnkey, branded OTC offerings for brokers, exchanges, bitcoins ATMs, and other sell-side firms that provide a 24/7 trading platform to their clients using Enigma Securities’ liquidity, automating bid-ask spread mark ups, and other operational tasks, connecting to third-party custodians like Fireblocks, and more.

Clients can create turnkey, branded OTC offerings

Enigma, a subsidiary of Makor Group, is one of the most competitive participants in the cryptocurrency market and was recently approved as a Registered Crypto Asset Firm and FCA regulated broker dealer.

Since its launch in 2017, Enigma has expanded its spot capabilities to futures trading, lending, and structured products. Enigma boasts a full-stack institutional offering and operates under a client-focused agency business model.

Tony Saliba, Chief Executive Officer at Mercury Digital Assets, said: “Mercury could not be more thrilled about our new collaboration with Enigma Securities. We both share extensive experience within traditional capital markets, which was a driving factor to work together and help develop more institutional participation in the crypto market. Especially as we see a continued rise in interest for being able to access block-sized liquidity for trading a broader group of altcoins and tokens.”

Michael Halimi, Co-Founder of Enigma Securities and CEO of the Makor Group, commented: “Collaborating with Mercury is a natural choice for Enigma as we both are committed to pushing forward the evolution of the OTC market for better liquidity and trading solutions. This partnership will add unique value for our mutual clients.”

Makor, Enigma’s parent company, completed a Series A raise at a $200m valuation to support the expansion of Enigma Securities, among other activities and global expansion. The digital asset brokerage reports monthly trading volumes in excess of $2 billion.

The company also built new strategic partnerships with Algorand – having onboarded CEO Steven Kokinos to its board of directors -, Alan Howard, and several notable US based asset managers.

Makor will take advantage of Algorand’s blockchain expertise to build and distribute digital assets, bridging the gap between Wall Street and the next generation of financial products.

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