“A service like this is sorely lacking in the crypto space. There hasn’t been a solution that offers the security or privacy that institutions need with these kinds of businesses.
Swiss-regulated institutional digital asset platform SCRYPT Digital has enlisted Enclave Markets to offer off-chain block trading to its client base.
Once traders move their assets off-chain, Enclave’s technology – Enclave Cross – matches traders with interested counterparties without revealing wallet addresses.
Enclave Cross mirrors dark pool trading
Enclave Markets is a market that combines centralized and decentralized finance and is aimed at asset managers, hedge funds and systematic trading companies. The company has a crossover network for crypto built in an entirely trustless environment that is designed to mirror black pool trading.
SCRYPT Digital leverages proprietary technology and a number of partnerships to offer a suite of services to institutions, including execution, custody, staking, market making and investment services.
The company claims that it broadcasts 24/7/365 with 99.99% uptime with optimal trading conditions and superior execution thanks to its Smart Order Routing (SOR) algorithm.
Completely confidential trading of blocks of assets with no impact on the price
Norman Wooding, Founder and CEO of SCRYPT Digital, said, “A service like this is sorely lacking in the crypto space. There hasn’t been a solution that provides the security or privacy that institutions need for these kinds of transactions. Moreover, there is never a guarantee that the exchange operator is a good actor. Enclave Cross changes all that. We are very happy to now be able to offer this service to our customers. SCRYPT Digital was designed from the ground up to offer only the best services, and now we can offer off-chain block trading with confidence. “
David Wells, CEO of Enclave Markets, said, “Enclave Markets is proud to partner with SCRYPT Digital to offer clients access to our new Enclave Cross platform, which enables completely confidential trading of blocks of assets. without impact on the price. This partnership between SCRYPT Digital and Enclave Markets aims to meet the growing institutional demand for digital assets.
Enclave’s Confidential OTC Trading Launched Last Week
Enclave launched its confidential OTC crypto trading service last week. Enclave Cross allows approved participants to execute bulk transactions in a completely private and secure manner. The platform uses advanced secure hardware-based technology that implements an enclave where code executes a smart contract without interference.
Authorized merchants move their assets off-chain into Secure Enclave technology which allows Enclave Cross to connect merchants directly with interested counterparties without exposing individual wallet addresses.
This helps resolve the time lag that can result from a large trade that can lead to slippages, information leaks, and technical signals in the market. Enclave Cross currently supports trading Avalanche, Ethereum, Bitcoin, and USDC with more digital assets to come.