DeFinity Records World’s First Live Cash Foreign Exchange (FX) Transaction On Its Layer 1 Blockchain Without Authorization

LONDON, January 12, 2022 / PRNewswire / – DeFinity, an ECN and DeFi institutional digital asset marketplace for FX, digital assets and CBDC, announces the world’s first settled cash FX transaction written on its WeOwn Layer 1 blockchain without authorisation.

Michael siwek, Co-Founder and Chief Revenue Officer of DeFinity Markets, said: “The opportunities for DeFinity in digital and traditional asset classes are vast and underpinned by the adoption of blockchain technology. The blockchain infrastructure has arrived at an opportune time, in line with our recently announced Cobalt partnership. “

The over-the-counter foreign exchange market has been opaque since its electronicization in the late 1990s. Prices vary by site, which can make it difficult to establish a uniform execution benchmark.

Ashwind Soonarane, Co-Founder and COO of DeFinity Markets, said: “We are extremely proud to deploy our technology at such an exciting time for the digital asset and blockchain space, helping our institutional clients achieve and maintain a full transparency around best execution practices. “

Anonymized or fully disclosed data can be recorded in real time or on a delayed basis to protect proprietary policies. Customers can customize certain components of the service to meet their internal and external reporting needs.

Manu Choudhary, Co-Founder and CEO of DeFinity Markets, added, “DeFinity is incredibly fortunate to run on one of the fastest third-generation blockchains, allowing the platform to be highly scalable, focused on performance and focused on transparency and decentralization. “

Chris Park, Co-Founder and CFO of DeFinity Markets, concluded: “The willingness of counterparties to report transactions on a blockchain without authorization demonstrates the market’s readiness to lift the veil on some traditional sticking points in the forex market, which will add additional advantages to the purchase. Thanks to these developments, we are really delighted that DeFinity has recorded a positive turnover in december 2021 with the first live trading client. “

DeFinity offers counterparties the ability to trade and record the full lifecycle of transactions on the Layer 1 blockchain. With the unique hybrid architecture of the WeOwn Layer 1 blockchain, users of the service can opt out of the Layer 1 blockchain. channel without authorization and instead maintain complete confidentiality with an authorized blockchain, sharing data with certain third party counterparties, regulators and analytics providers.

DeFinity is independent from institutional custody and its ecosystem allows a wide range of custodians to interact with its participating buyers and sellers, while allowing these participants to be fully flexible as to venue. DeFinity has always had the vision of creating the environment to achieve the inflection point for institutions as FIAT and crypto converge. Establishing a market leadership position with our partners in the two individual asset classes will position us to accelerate the delivery of our roadmap.

To view transactions recorded in our Layer 1 blockchain without authorization, please use our blockchain explorer or visit our Medium blog at:

https://explorer.weown.com/

Active subscribers can access granular transaction data in the white label DeFinity Block Explorer admin portal:

https://medium.com/definity-network/definity-records-worlds-first-live-cash-foreign-exchange-fx-trade-to-its-permissionless-layer-1-36e9e3ac5d8

About DeFinity Markets

Defined Markets is a financial technology company powered and owned by DMALINK, We have and their respective founders. DeFinity operates an ECN and DeFi institutional digital asset marketplace for fiat currencies, cryptocurrencies, and central bank digital currencies (CBDCs). In addition to the ECN digital asset, DeFinity is a Layer 2 protocol and decentralized exchange solution focused on interoperability, using existing blockchain frameworks such as WeOwn, Ethereum, Polkadot, Binance Smart Chain and Cardano. Harnessing the power of decentralization within a strong regulatory framework, the company is specifically geared towards the future support of central bank digital currencies and decentralized financial services for currency clearing.

For more information, contact:
[email protected]

+44 (0) 20 3290 6580

SOURCE DeFinity