Forex and precious metals electronic communications network (ECN) Spotex and Etana Custody, a Chartered Trust company, have announced that they have executed the first fully funded and physically settled cryptocurrency trades between two Etana Custody held clients.

Etana’s custody and trade support solutions for fiat and digital assets provide clients with flexibility and peace of mind. As an independent, regulated custodian, Etana allows institutions to buy and sell fiat and digital assets directly from custody, eliminating risky transfers and inefficient transactions.

Spotex’s FIX compliant technology infrastructure paves the way for traditional financial participants to cross over into decentralized financial markets. Given the need for a reliable 24/7 execution network, adding digital assets to Spotex’s product base was a logical progression.

Brandon Russell, CEO of Etana Custody, commented,

“Partnering with Spotex’s established ECN and existing Institutional client base has enabled Etana Custody to broaden its Institutional client reach. As Institutional adoption of digital assets continues to grow, having a reliable partner in Spotex that provides Institutional grade pre and post-trade execution services is vital to our growth in this sector.”

John Miesner, CEO of Spotex LLC added,

“We are excited to have entered the digital space with an accredited, regulated custodian like Etana Custody. Whether digital or fiat, Institutional clients have expressed significant concern regarding the safety of their assets. Etana fulfills those needs for financial institutions entering the digital marketplace, from the custody of assets to buying power to physical settlement.”

Following this announcement, Etana Custody and Spotex LLC said that they will broaden their partnership to create additional opportunities and innovative solutions for clients pursuing a simpler, more secure experience in the digital asset class.

Spotex enables institutions to trade in a low latency ECN central limit order book (CLOB) or their own disclosed DMA liquidity pools with preferred liquidity providers. Leading Sell-side and Buy-side liquidity providers are connected to Spotex. The company provides foreign exchange electronic execution, liquidity solutions, and digital technology to participants of global foreign exchange and digital markets. The Spotex ECN is supported by leading banks, hedge funds, proprietary trading firms, broker-dealers, prime brokers, and digital custodians.

Etana Custody Ltd. is a Colorado chartered trust company regulated by the State of Colorado Division of Banking. Etana offers global custody and trade support solutions for institutions, corporations, exchanges, and individuals as an independent, qualified custodian. The group’s custody and trade support solutions allow clients to manage their fiat and digital assets from one location in a secure environment linked to many service provider options.