Arcane Crypto AB: Puremarkets announces intention to explore trading and digital asset innovation with State Street and State Street's Currenex

Puremarkets Limited ("Puremarkets" branded as Pure Digital), a company where Arcane Crypto AB ("Arcane") holds 37.5% through Arcane Crypto AS, today publicly announced that State Street's Currenex ("Currenex") have entered into an agreement to provide the trading infrastructure to the Pure Digital platform. In addition, State Street Bank & Trust Company and Puremarkets intend to explore the digital currency trading space via the Pure Digital platform based on an existing LOI between the parties.

ARCANE CRYPTO AB: PUREMARKETS ANNOUNCES INTENTION TO EXPLORE TRADING AND DIGITAL ASSET INNOVATION WITH STATE STREET AND STATE STREET'S CURRENEX

Puremarkets Limited ("Puremarkets" branded as Pure Digital), a company where Arcane Crypto AB ("Arcane") holds 37.5% through Arcane Crypto AS, today publicly announced that State Street's Currenex ("Currenex") have entered into an agreement to provide the trading infrastructure to the Pure Digital platform. In addition, State Street Bank & Trust Company and Puremarkets intend to explore the digital currency trading space via the Pure Digital platform based on an existing LOI between the parties.

Currenex is a market-leading technology provider offering high-performance technology for anonymous and disclosed trade execution. The agreement with Currenex enables rapid set-up of the Pure Digital platform and trading is expected to commence in 2021.

The Pure Digital trading platform will be the first of its kind, offering a wholesale interbank market for Tier 1 investment banks to trade bitcoin and other digital assets. Pure Digital is in discussions with several other Tier 1 investment banks to use the platform, which will provide a high throughput OTC market for digital assets and cryptocurrencies with physical delivery and bank custody.

"It is an important step for Pure Digital that one of the leading banks in the world is now publicly declaring their support for Pure Digital. We believe this will help Pure Digital accelerate their development. That Currenex will provide the technology platform is also important. Currenex is a company and an infrastructure that most of the leading banks in the world already are familiar with and trust. This could further speed up the process of attracting other Tier 1 banks" says Torbjørn Bull Jenssen CEO of Arcane and continues; "Institutional trading is the final frontier for the institutional adoption of cryptocurrencies and Arcane is excited to be a part of that with Pure Digital. Pure Digital leverages an experienced team from the FX industry across sales, trading and product development and a proven track record, delivering a similar platform for banks trading FX."

Lauren Kiley, the CEO of Pure Digital commented "We are very excited to announce State Street's involvement in this initiative. They are exploring digital asset trading with us and also providing the technology as we prepare to bring the institutional market exactly what it needs." Campbell Adams, the Founder of Pure Digital added, "This is a significant and important step for the digital currency space. Pure Digital has purposefully built an ecosystem on next generation components throughout the full trade cycle with many important developments to come."

Torbjørn Bull Jenssen, CEO, Arcane Crypto AB

e-mail: post@arcanecrypto.se

web: investor.arcanecrypto.se

Följande dokument kan hämtas från beQuoted
PR-Press-Release-8-apr-2021-Puremarkets-Release.pdf

About Arcane Crypto

Arcane Crypto develops and invests in projects, focusing on bitcoin and digital assets. Arcane operates a portfolio of businesses, spanning the value chain for digital finance. As a group we deliver services targeting payments, investment, and trading. In addition, we have a media and research leg.

Arcane has the ambition to become a leading player in the digital assets space by growing the existing businesses, invest in cutting edge projects, and through acquisitions and consolidation.

The Company is listed on Nasdaq First North Growth Market and Mangold Fondkommission is Certified Adviser, tel. +46 8 5030 1550, e-mail: ca@mangold.se, web: www.mangold.se.

About Pure Digital

Pure Digital is an interbank marketplace for cryptocurrency price discovery and exchange of wholesale risk provided by Puremarkets. Pure Digital will provide a best-in-class primary institutional marketplace, with a consortium of banks as liquidity providers, custodians, and clearers. Expect meaningful trade size along with price granularity and transparency. The solution uniquely offers pre-trade bilateral credit and multi/smart custody. Pure Digital will also feature the ability for banks to select their counterparties, enabling compliance over geographies with different regulatory environments. The management team bring many years of experience at top tier banks and have successfully delivered a similar platform for the FX market.

The trading environment is currently in beta testing for selected customers of the banks which have signed, or are in the process of signing, LOIs with Pure Digital.

An important next step for Pure Digital is the banks going public with their support for the platform and thereby creating increased interest and market awareness about Pure Digital's offering.

For further information about Puremarkets and the Pure Digital platform please see: https://puredigitalmarkets.com/

Source: beQuoted
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