Strategic Partnership Between Cactus Custody and Bybit
In a significant move for digital asset management, Cactus Custody, Asia's premier compliant digital asset custodian, has entered into a partnership with Bybit, a prominent global cryptocurrency exchange. This collaboration involves the integration of Cactus's innovative off-exchange settlement solution, Cactus Oasis, with the Bybit platform. The forthcoming integration aims to boost asset security, enhance capital efficiency, and optimize risk management specifically for institutional clients.
What is Cactus Oasis?
Cactus Oasis is designed with institutional investors in mind, offering independent asset custody alongside streamlined post-trade settlement. Through this integration with Bybit, institutional users gain the advantage of trading without the need for pre-funding their exchange accounts. Instead, they can deposit collateral directly with Cactus Custody, where the assets are securely held in regulated custody and transferred to Bybit only at the point of trade settlement. This arrangement effectively reduces counterparty risk while ensuring continuous access to market liquidity.
Benefits of the Cactus Oasis Integration
The benefit to institutional clients from the Cactus Oasis integration is substantial. One of the standout features includes cross-platform custody, allowing Buffer accounts (an innovative feature of Cactus Oasis) to connect with multiple exchanges. This allows for centralized asset management and efficient transfers across platforms. Additionally, it offers flexible risk controls that include dual-authorization and pre-authorization modes, along with customizable approval and settlement workflows designed to meet the demands of institutional compliance standards.
Advanced Security Measures
Cactus Custody operates under stringent regulatory guidelines and is licensed as a Hong Kong Trust Company, and a Trust or Company Service Provider by the Hong Kong Monetary Authority. Their infrastructure utilizes a sophisticated tiered hot and cold wallet system that combines hardware security module (HSM) encryption with bank-grade cold storage to protect assets. Furthermore, the platform has been certified with SOC 1 Type 1 and SOC 2 Type 2 by Deloitte, reinforcing its commitment to security and operational transparency.
Key Quotes from Leadership
Wendy Jiang, General Manager of Cactus Custody, expressed her enthusiasm regarding the partnership: "This integration with Bybit effectively responds to institutional demands for secure custody, risk reduction, and efficient post-trade settlements. It marks a significant advancement in creating a robust digital asset trading infrastructure and promotes institutional adoption of cryptocurrency trading." Shunyet Jan, Head of Institutional and Derivatives at Bybit, added, "Our commitment at Bybit is to provide institutions with a secure and efficient trading environment. The integration of Cactus Oasis provides our clients with enhanced flexibility in liquidity management while maintaining stringent asset protection measures."
Looking Ahead: The Future of Cactus Oasis
This partnership not only strengthens the existing relationship between Cactus Custody and Bybit but also illustrates their shared vision of developing a trusted digital asset infrastructure. Looking forward, Cactus Custody has plans to further expand Cactus Oasis connectivity, aiming to meet the dynamic and evolving needs of institutional clients in an ever-changing market landscape.
About Matrixport
Founded in 2019, Matrixport has quickly established itself as a frontrunner in crypto financial services. The firm offers a personalized Super Account, which integrates a wide range of services including trading, investment, lending, custody, and research. With over 6 billion US dollars in assets under management, Matrixport is dedicated to delivering innovative solutions that enhance capital efficiency and long-term returns.
About Cactus Custody
Cactus Custody, a subsidiary of Matrixport Group, is a regulated digital asset custodian that provides secure asset management for over 300 leading institutions around the globe. Offering services that include secure custody, DeFi access, and OTC settlement, Cactus is committed to protecting billions of dollars in digital assets, underpinned by a robust infrastructure that champions security and regulatory compliance.
About Bybit
Bybit has emerged as the world’s second-largest cryptocurrency exchange, with a user base exceeding 70 million. Established in 2018, the platform emphasizes openness and accessibility in the decentralized financial landscape. Bybit's focus on Web3 and partnerships with leading blockchain protocols aim to foster an environment that enables on-chain innovations. With notable features such as secure custody, a diverse marketplace, and advanced blockchain tools, Bybit empowers users to explore the full potential of decentralized finance.
Frequently Asked Questions
What is the purpose of the Cactus Oasis integration with Bybit?
The Cactus Oasis integration allows institutional clients to trade securely without pre-funding their accounts, reducing counterparty risk and improving capital efficiency.
How does Cactus Custody ensure asset security?
Cactus Custody employs a layered hot and cold wallet system with HSM encryption and bank-grade cold storage, along with regulatory compliance for safeguarding digital assets.
What kind of institutions does Cactus Custody serve?
Cactus Custody serves over 300 leading institutions globally, focusing on providing a secure and compliant environment for digital asset management.
What advantages does the partnership with Bybit provide?
This partnership enhances the trading experience for institutional clients, allowing better liquidity management and risk controls while ensuring asset security.
What are Matrixport’s services?
Matrixport offers an integrated platform for trading, investment, lending, custody, and research services, emphasizing innovation in financial solutions for cryptocurrency investment.
