In my quest of finding institutional focused crypto projects I stumbled upon Definity Markets. They seem to be lightyears ahead in terms of product readiness. I read they recently had their first live trade by one of their big clients. I DYOR and think it could be a gem. I am no team member and not affiliated in any other way than owning a small bag of tokens. Below some information I gathered:
Definity Markets is a London based fintech company with connections to big banks and several financial institutions. They have a team with long experience in TradFi including leadership roles in major financial institutions, led by Co-Founder/CEO Manu Choudhary (previously Director FX Sales at Lloyds Bank). They are owned by DMALINK who have been running a successful and rapidly scaling FX business (FX & precious metals) since 2017, with major international banks as partners and over $1T of completed transactions - currently over $1B+ per day (see more below).
One of the major narratives in the upcoming bull market will most likely be based on institutions and this project has absolutely huge potential because of its institutional connections and technology! They have recently launched a world first trading model that allows institutions to trade crypto at lightning-fast speeds, while minimizing counterparty risk. They are NOT an exchange. DeFinity does NOT take custody of either crypto or fiat. The custody of fiat is with a European Investment Bank. Crypto custody is either self-custody on Fireblocks or via an accredited custodian such as BNY Mellon. They can do a maximum trade size of $100m and $500m via Algos (they will upscale later). They offer Fiat On/Off ramp services to crypto native firms. They are regulated through FSC Mauritius.
Their institutional asset trading platform has been operational since September 26th. 6 institutional clients (for now under NDA) have been onboarded and are trading live. Definity has 60+ clients lined up to join the ecosystem. The platform is not for retail users, only for institutional clients. Institutions will hold $DEFX (native token) to get discounted trading fees among other features/benefits. A % of the fees paid to use the Definity platform will be used to buy back $DEFX from the open market and then burned. Buy backs will be a percentage of entire group revenue (incl. DMALINK revenue). Open market buys mean that a CEX with proper liquidity is essential (and in progress). With a current market cap of around $5 million and almost all tokens in circulation (a part is reserved for farming pools/liquidity/market making) there's quite a lot of upside to the token. With a real use product like this, combined with massive institutional clients (think Big EU banks for partners) this could be a true gem!
In short / tldr:- A London based crypto focused company called DeFinity Markets.
- Microcap: current mcap $5.1M and FDV $7.7M
- Their ecosystem token is $DEFX
- Available on BSC (Pancakeswap) & ETH
- Offering institutional crypto trading and Fiat On/Off ramp to crypto native firms
- Institutional clients using the platform will pay fees in $DEFX (new tokenomics document in progress)
- CEX is being worked on for buy backs on open market
- Their platform is designed to cater to the specific needs and expectations of institutional investors, such as banks, hedge funds, asset managers, and corporations
- DeFinity leverages blockchain technology for transparency and security while implementing high-frequency trading capabilities to meet institutional demands
- Owner DMALINK has 40 live institutional clients including 16 banks, including: Danske Bank, Nomura Bank, Crédit Agricole CIB, CME Group etc. It's also partnered with Tier 1 European investment bank for crypto trading
- As for additional tokenomics there currently are staking pools available through their dashboard (BSC & ETH pools) for staking rewards. Right now farming pools for liquidity are being prepared. The supply is fixed and future buy backs & burns will decrease supply.
Do you know of companies with similar offerings? I am trying to find more of these real use projects in the institutional space. Any suggestion are most welcome!
