Sygnum adds off-exchange crypto custody to Deribit with Fireblocks tech

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Sygnum adds off-exchange crypto custody to Deribit with Fireblocks tech

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https://cointelegraph.com/news/sygnum-crypto-bank-detibit-derivatives-custody-fireblocks?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

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On March 5, Sygnum announced the expansion of Sygnum Protect, its off-exchange custody platform, to include Deribit, one of the world’s largest derivatives exchanges in crypto.

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According to the firms, the integration mitigates counterparty risks while trading on exchanges and provides additional protection against increasingly sophisticated cybersecurity attacks.

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“This allows the trading client to trade on Deribit without pre-funding the exchange. Importantly, this uses the exact same technical integration of Fireblocks Off Exchange, except the custodian would verify any settlements with the exchange,” Astle told Cointelegraph.

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