Integral Announces PrimeOne, A New Stablecoin Brokerage
Integral Announces PrimeOne, A New Stablecoin Brokerage. Photo By Jakub Žerdzicki On Unsplash.
Integral has announced that it is launching a new stablecoin brokerage product called Prime One, according to the company's press release.
The company providing trading infrastructure and currency services has revealed its latest onchain expansion via Prime One, allowing more than 200 global organisation including banks, technology leaders and financial institutions to settle trading in stablecoins.
Building on this news, CEO Harpal Sandhu expressed:
“As institutional adoption of crypto accelerates, the lack of accessible credit remains the last major hurdle to widespread participation. As the technology provider powering more than $1 trillion of FX trading monthly, Integral is now bringing our best-in-class infrastructure to digital assets. PrimeOne reduces risk, cost, and complexity while unlocking liquidity, profitability, and confidence in crypto trading.”
The statement explains that this will aim to reduce counterparty credit risk, including faster real-time settlement, as well as margin transfers directly in stablecoins between wallets. Integral has chosen to build this out on Codex, an L2 blockchain suited for stablecoins.
Codex has also recently reached $3B in stablecoin volumes just two months after its launch earlier in the summer, as well as a key partnership with GSR finalised in Q4 of this year to further scale institutional adoption of stablecoin settlements.
Note: This is intended for informational purposes only and does not in any way constitute or solicit financial, professional, or legal advice. Readers should conduct their own due diligence at all times.
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