In other news, State Street taps Prudential, FIS works with Fireblocks, FundGuard finds new funding, and Rathbone stays with SS&C.
Finansiv Offers Link Between Fiat & Crypto Trading
Finansiv, a digital asset prime brokerage that caters to retail and institutional investors in Bitcoin, Ethereum, and other digital assets, reports that it has gone live and is executing over-the-counter (OTF) client trades.
Finansiv officials say that in addition to offering “access to fiat spot markets,” they provide an end-to-end platform “as the intermediary between digital asset investors and cryptocurrency exchanges” via execution, capital management, and custody services.
In addition, the firm says it offers order routing combined with settlement and cash management; custody via banks and custody providers; post-trade reporting; execution consulting and advice for digital asset markets.
“Cryptocurrency trading lacks the transparency and liquidity that is nowadays the standard in traditional finance. We’re excited to bring these qualities to the crypto markets,” says Aleksandar Ivanov, founder and CEO of Finansiv, in a prepared statement.
The firm says that its retail-focused platform will be live by the end of the year.
State Street Hires from Prudential Financial
Michael Knowling
State Street Corp. reports that it has appointed Michael Knowling to head its global clients division. Knowling will report jointly to Joerg Ambrosius and Chris Coleman.
Knowling’s mandate includes managing “senior client executives, global relationship managers, and client analysts as part of State Street’s client centric coverage model focused on delivering cross-enterprise solutions and insights to the company’s global and most complex clients.”
He joins from Prudential Financial where he was the head of client relations and business development within Prudential Retirement, “with responsibility for managing the profitability, growth and client satisfaction for Prudential while developing and delivering innovative retirement solutions,” the statement notes.
“Prior to this role he led the eastern US client service team responsible for the retention, profitability and satisfaction of more than 500 clients, and he has also served in several sales, service, plan transition and underwriting roles for Prudential Retirement and CIGNA,” officials say. —L.Ch
FIS & Fireblocks Bring Crypto Technology to Capital Markets
FIS and Fireblocks have been collaborating to offer buy- and sell-side firms and corporates “enterprise-grade digital asset investing and wallet technology, lending and decentralized finance (DeFi),” officials say.
The results are new ways to “efficiently gain access to the largest crypto trading venues, liquidity providers, lending desks and DeFi applications,” officials add.
“A recent study found that 69 percent of institutional investors in the U.S. would like to adopt digital assets as a part of their investment portfolio,” FIS officials say.
FIS clients can use the Fireblocks platform to “move, store and issue digital assets, and gain access to self-custody digital asset wallet technology, an asset transfer network and tools to access staking, DeFi and other more advanced forms of digital asset exposure,” officials say.
“As digital currencies become more mainstream, capital markets firms will greatly benefit from a single destination that helps them manage many classes of digital assets,” says Nasser Khodri, head of capital markets at FIS, in a prepared statement.
“The strategic partnership with FIS will bring the Fireblocks technology to nearly every type of buy-side, sell-side and corporate institution in traditional assets,” says Michael Shaulov, CEO at Fireblocks, in a statement.
FundGuard Closes $40M in Series B Funding
FundGuard, the software-as-a-service (SaaS) investment management and asset servicing platform, reports that it has closed a $40 million Series B funding round.
“The investment round included large strategic investors Citi and State Street Corp, who joined initial investors Blumberg Capital, LionBird Ventures, Team8 Capital, and other investors to back the company’s future-ready technology approach to asset servicing,” the provider says in a statement.
The recent series B round brings total investment in FundGuard to more than $55 million in 3.5 years, the statement adds. —L.Ch
Rathbone Extends Transfer Agent Contract with SS&C
SS&C Technologies Holdings, Inc. reports that Rathbone Funds, the London-based subsidiary of Rathbones Group Plc, has extended its long-term transfer agency relationship with SS&C Global Investor and Distribution Solutions.
“We are pleased to continue our 15-year relationship with SS&C,” Mike Webb, chief executive of Rathbone Unit Trust Management Ltd., says in a statement.
“As a leading U.K. asset manager, with nearly £13bn under management, we look to support our clients and adviser network with the latest financial management tools to improve their experience. SS&C GIDS continues to invest in technology that simplifies account management, and we look forward to a continuation of our partnership,” Webb says — L.Ch
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