Arcario's Pure Digital Partners with Nomura-backed ClearToken for Centralized Clearing House IntegrationLondon, 3 May 2023 - Arcario's Pure Digital, an innovative interbank marketplace for tier one banks to trade digital assets, has entered into a Proof of Concept (POC) agreement with ClearToken, a prominent clearing house project in the digital asset space backed by Nomura's Laser Digital. Arcario maintains a significant 37.5% stake in Puremarkets Ltd., the company responsible for developing the Pure Digital platform. Pure Digital continues its impressive Q1 development, securing an additional tier-one investment bank to join the existing Letters of Intent (LOIs) obtained from six other major investment banks, including State Street and BNY Mellon. This positions the company for successful development and launch of a digital assets interbank market, further strengthening Pure Digital's market presence. Moreover, the agreement with ClearToken accelerates progress by enabling integration with their centralized clearing house system, streamlining entry into the digital asset market for top-tier banks.
Lauren Kiley, CEO of Pure Digital, commented, "Our alliance with ClearToken marks a pioneering effort to accelerate digital asset adoption among tier one banks. By incorporating centralized clearing and embracing regulatory advancements like MiCA, we're constructing a reliable and efficient trading ecosystem for financial institutions."
Michael Jackson, Chairman of the board at Arcario, noted, "The partnership between Pure Digital and ClearToken showcases our commitment to nurturing innovation in the digital asset space. We are confident that this collaboration will enhance the Pure Digital platform and encourage wider adoption of digital assets by institutional investors."
Benjamin Santos-Stephens, CEO of ClearToken remarked, "ClearToken is committed to supporting the institutionalisation and wholesale adoption of digital assets by providing robust, well governed, and appropriately regulated financial market infrastructure. We are proud to partner with Pure Digital and its ecosystem of other like minded banks."
ClearToken, one of Laser Digital's strategic investments, aims to revolutionize the digital asset marketplace by introducing a clearing house that will reduce counterparty risk and enable broader institutional adoption.
In collaboration with key market participants, ClearToken will leverage traditional market structure best practices to address challenges faced by conventional asset management, insurance, and banking institutions in the digital asset sector. This will also complement Pure Digital's role as the wholesale interbank marketplace and enhance its offering.
Laser Digital, was launched by Nomura to spearhead its digital asset ambitions, is chaired by Steven Ashley, who previously led Nomura's wholesale division. Headquartered in Switzerland, Laser Digital invests in projects which aim to address the challenges institutional investors currently face in the digital asset marketplace.
As Pure Digital moves ahead, building its interbank marketplace for digital assets, the company is set to offer a best-in-class primary wholesale marketplace for price discovery and exchange of risk.
The consortium of banks that are working with Pure Digital will serve as liquidity providers, custodians, and clearers. Meanwhile, the experienced management team, with backgrounds in top-tier banks, will leverage their previous successes in delivering a similar platform for the foreign exchange (FX) market.
For more information, please contact Arcario AB's IR team at [email protected] or visit ir.arcario.com.
The following documents can be retrieved from beQuoted
Arcarios-Pure-Digital-Partners-with-Nomura-backed-ClearToken.pdf About Arcario
Arcario is a Scandinavian trailblazer in the digital asset space, committed to shaping the future of finance as we know it. The company boasts a diversified portfolio that includes full ownership of K33, a research-led digital assets brokerage serving EMEA clients, Arcane Green Data, an eco-friendly Bitcoin mining operation in northern Norway, and minority stakes in both Puremarkets Ltd, a digital currency interbank OTC market, and LN Markets, a Bitcoin exchange leveraging the Lightning Network. The Company is listed on Nasdaq First North Growth Market and Mangold Fondkommission is Certified Adviser.
About Pure Digital
Pure Digital is an innovative financial technology firm dedicated to building an interbank marketplace for digital cryptocurrency price discovery and exchange of wholesale risk via the Pure Digital platform. By creating a consortium of banks as liquidity providers, custodians, and clearers, Pure Digital aims to provide a top-tier primary wholesale marketplace for digital assets. The management team brings a wealth of experience from leading positions at top-tier banks and has a proven track record of success in developing a similar platform for the foreign exchange (FX) market.
About ClearToken
ClearToken is building a Central Counterparty (CCP) to deliver robust financial market infrastructure to the digital asset ecosystem. This infrastructure will mitigate bilateral counterparty risk for settlement, financing, and derivative transactions by centralizing clearing, collateral, and risk management arrangements. The company will operate 24/7 to provide uninterrupted service while managing risk in real-time through margin and default fund contributions. As a horizontal CCP, ClearToken will facilitate transactions from multiple venues and OTC markets globally. We are multi-custodial and adhere to the highest AML and KYC standards. ClearToken's team comprises established corporate governance and financial markets professionals who share the objective of implementing the necessary framework for the digital asset market.
About Laser Digital
Laser Digital is a digital asset business redefining the frontier of digital finance. Backed by Nomura, Laser Digital delivers scalable, robust opportunities across trading, asset management, and ventures. The team works at higher risk management standards, compliance, and commercial viability, all driven by a belief in more responsible engagement in digital assets. With an open and dynamic culture, Laser Digital has the freedom to adapt to market needs, to move swiftly to capitalisation, and to share learnings with clients and partners - bringing greater confidence to the institutional market for the benefit of all.
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