Traditional and Digital Asset Market Convergence
In a recent interview with CoinDesk TV, Lynq CEO Jerald David highlighted the growing convergence between traditional market participants and digital asset market participants.
Lynq’s latest offering, FTIXX, provides firms with a solution to efficiently manage cash between trades, allowing them to earn yield on idle funds. This product was developed in response to client demand from firms like B2C2, Wintermute, Galaxy (GLXY), FalconX, Crypto.com, and Fireblocks, who frequently need to move large sums of money between trades.
“Our clients were looking for a treasury asset on the platform with a different yield profile,” David explained. To meet this demand, Lynq had to make modifications to its technology, restrict access for U.S. clients, and integrate with Mosaic. Additionally, customers must have a relationship with tZERO Securities and pass the required onboarding and eligibility checks to access FTIXX.
Lynq operates on a private, permissioned Avalanche (AVAX) Layer 1 blockchain and has onboarded more than 30 institutional digital asset firms with over $89 million in assets on its network.