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Matrixport introduces “Phoenix Prime,” pioneering the next generation of prime brokerage services in the crypto space


SINGAPORE , April 3, 2024 /7Newswire — Matrixport, one of the world’s leading digital asset ecosystems, today launched its new prime brokerage service,  Phoenix Prime . This breakthrough provides the first unified access to the crypto market with a technically enhanced trading infrastructure with minimal microsecond latency and a quantitatively focused, capital efficient system via the FIX protocol.

Powered by an advanced Smart Order Router (SOR), Phoenix Prime gives trading companies unprecedented, ultra-low latency access to spot, perpetual swaps and dated futures liquidity from Binance, OKX and Bybit. It plans to integrate additional exchanges soon to expand access to additional sources of liquidity for its customers. Future expansions are intended to optimize capital efficiency and provide trading companies with more strategic flexibility to effectively manage their resources. It also addresses the challenges faced by some trading firms with complex integrations across multiple exchanges and geographic locations, as well as increasing KYC/AML compliance requirements.

With its technology-enabled and quantitative prime brokerage offering, Phoenix Prime is built on the three pillars of excellence: ultra-fast speed, cost-effectiveness and convenience. Additionally, it enables efficient capital management and counterparty risk mitigation through instant cross-exchange transfer, over-the-counter settlement and competitive lending services.

Daniel Egloff , Global Head of Prime Brokerage Business at Matrixport, said: “As the market evolves, the crypto offering for Prime Brokerage will move beyond the primitive business model of renting out exchange sub-accounts. Phoenix Prime’s intelligent order routing technology addresses the problem of fragmented liquidity across the entire spectrum of tradable products, with potential latency as low as 30 microseconds. Trading firms will be able to take advantage of new trading opportunities, maximize capital efficiency and reduce counterparty risk, while benefiting from competitive execution costs.”

Information about Matrixport

Matrixport is one of the world’s leading digital asset ecosystems, providing one-stop crypto financial services to meet the emerging needs for asset management, trading and custody of digital assets. The Company’s offerings for institutional and accredited investors include Cactus CustodyTM, Spot OTC, asset management, and access to real assets through tokenization.

With $4 billion in digital assets under active management, Matrixport achieved a unicorn valuation in 2021 and was named one of the 50 most promising blockchain companies in the world in 2022 by CB Insights. Through its venture division, the company also forges strategic collaborations with early-stage Web3 innovators, supporting them as they build, grow and scale.

Headquartered in Singapore, the company has a Hong Kong Trust Company License, a Money Lender License, an FCA Appointed Representative and an SRO-VQF membership from the Swiss FINMA. For more information, visit https://www.matrixport.com/ .

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