Falconx, a digital asset prime brokerage which indicates that it has executed more than $ 1.5 billion in commercial volume, joined Crypto.com, Galaxy, Wintermute and others as a launch partner for Lynq, a platform which aims to be a layer of settlement for digital assets and financial institutions. Lynq’s launch could highlight the growing institutional interest in digital assets as regulatory clarity improves.
Falconx, who says access to more than 400 tokens, “will act both as a participant and liquidity supplier on the Lynq network,” said CEO of Lynq, Jerald David, at Cointelegraph.
Lynq, developed in partnership with Arca Labs, Tassat Group and Tzero Group, aims to provide a solution that deals with the evolution of regulatory managers and counterpart risks, according to an announcement on Tuesday. These problems can be important for institutions that respect strict regulations and seek to launch cryptographic products.
https://www.youtube.com/watch?v=fdpmjhtq5am
In Crypto, the regulation is the last part of the process in which the funds are transferred between the parties, and the transaction is recorded on the blockchain. Some examples include sending tokens from one party to another, releasing guarantees stored in a contract and generation of tokens where tokens are automatically distributed to investors.
Anchorage Digital, a web3 company which is aimed at institutions, has a network of institutional settlement called Atlas. BVNK, a crypto company based in London, is involved in various crypto settlement processes.
Certain examples of Blockchain regulation networks include Kinexys of JP Morgan and the “Project Ion” platform by a large scale of American actions.
From the Lynq platform, David said: “Access to the Lynq network is available free of charge for participants, and network transactions are not subject to transaction costs. Lynq’s revenues are derived by taking a small interest in the portfolio. ”
Friday, the platform will start its last user acceptance test phase.
In relation: Falconx acquires a majority participation in Monarq – Report
Growing institutional interest in crypto
The imminent launch of Lynq can point out a growing interest among institutions towards digital assets, in particular for stablecoins, which become more widely used in the settlement processes.
According to Defillama, Stablecoin’s market capitalization amounts to $ 251.4 billion on Tuesday, marking an increase of 55.5% in one year.
Stablecoins offer advantages to traditional fiduciary currency, including reduced transaction costs, faster payment times and improving liquidity. These advantages are amplified when they treat cross -border transactions or countries where reserve fiduciary currencies, such as the US dollar, are detained at low supply.
According to a Fireblocks survey, 90% of institutions use or have plans in the course of stablecoins. In May, the Wall Street Journal reported that several major American banks were at the start of talks to issue a spouse.
Review: Danger sign for Bitcoin because the retail trade abandons it to institutions – Sky weekends
