BNY Mellon joins Arcane Crypto’s associated company Pure Digital to build a digital currency platform

PRESS RELEASE: BNY Mellon joins Arcane Crypto’s associated company Pure Digital to build a digital currency platform

Stockholm, July 21, 2021 – Arcane Crypto’s London based associated company Puremarkets Limited (trading as Pure Digital), in which Arcane has a 37.5% ownership, today announced that BNY Mellon has joined the consortium of banks working with the interbank wholesale marketplace to develop a platform to support the entire digital asset life cycle.

BNY Mellon will collaborate closely with Puremarkets Limited and the other banks in the consortium to help establish a new front-to-back office solution for transacting digital assets. It will also play a role in determining the optimal structure for the platform.

Pure Digital will be the primary source of price origination and discovery for the digital currency market that results from the initiative. The final platform—subject to regulatory approval—will leverage Pure Digital’s FX trading industry infrastructure, providing users with stability, security, transparency, as well as capital efficiency.

“With ever-growing client-driven interest and demand in the digital currency space, it is natural for a leading first-mover bank like BNY Mellon to support our initiative. We look forward to working closely with the digital team at BNY Mellon,” said Campbell Adams, founder of Puremarkets Limited.

Lauren Kiley, CEO of Pure Digital added, “As more top-tier banks join our initiative, we move closer to having an efficient wholesale crypto market which will ultimately lead to a more stable and mature asset class. We are delighted to welcome BNY Mellon to our initiative.”

“BNY Mellon is pleased to be working with Pure Digital and other consortium members to explore new digital asset servicing solutions for our clients as the regulatory landscape develops,” added Jason Vitale, Global Head of Foreign Exchange at BNY Mellon. “Digital assets are only going to become more embedded in global markets in the years ahead and this collaboration accords with BNY Mellon’s wider strategy to develop a digital asset capability for clients across the entire trade life cycle.”

This collaboration follows BNY Mellon’s February 2021 announcement that the firm is building a new digital assets unit that will include the industry’s first multi-asset custody and administration platform for both traditional and digital assets.

 

About BNY Mellon
The Bank of New York Mellon Corporation, commonly known as BNY Mellon, is an American investment banking services holding company headquartered in New York City. BNY Mellon was formed from the merger of The Bank of New York and the Mellon Financial Corporation in 2007. It is the world’s largest custodian bank and asset servicing company, with $2.2 trillion in assets under management and $41.7 trillion in assets under custody as of the second quarter of 2021. BNY Mellon is incorporated in Delaware.

 

About Pure Digital
Pure Digital is a fully automated, high throughput OTC market for digital currencies with physical delivery routing to bank-grade custodians. Institutional participants will trade on the platform utilizing bilateral credit, enabling counterparty control for all trading participants and creating a significant increase inefficient capital utilization. This will establish a robust market for price discovery and exchange of risk. For further information: www.puredigitalmarkets.com Email: info@puredigitalmarkets.com

For further information, please contact:

Torbjørn Bull Jenssen, CEO, Arcane Crypto AB

E-mail: ir@arcanecrypto.no  

 

About Arcane Crypto

Arcane Crypto develops and invests in projects, focusing on bitcoin and digital assets. Arcane operates a portfolio of businesses, spanning the value chain for digital finance. As a group, we deliver services targeting payments, investment, and trading. In addition, we have a media and research division. Arcane has the ambition to become a leading player in the digital assets space by growing the existing businesses, invest in cutting-edge projects, and through acquisitions and consolidation.

Subscribe to press releases and financial information: https://investor.arcanecrypto.se/

 For more information, please visit: https://www.arcane.no/

The Company is listed on Nasdaq First North Growth Market and Mangold Fondkommission is Certified Adviser, tel. +46 8 5030 1550, e-mail: ca@mangold.se, web: www.mangold.se.

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Disclaimer
All transaction are carrying out by SiLLC, a private portfolio management assembly. This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of SiLLC and/or its members. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to SiLLC’s advisory activities relates to SiLLC Assembly International.

Arcane Crypto AB: Puremarkets announces intention to explore trading and digital asset innovation with State Street and State Street’s Currenex

Arcane Crypto AB: Puremarkets announces intention to explore trading and digital asset innovation with State Street and State Street’s Currenex

Puremarkets Limited (“Puremarkets” branded as Pure Digital), a company where Arcane Crypto AB (“Arcane”) holds 37.5% through Arcane Crypto AS, today publicly announced that State Street’s Currenex (“Currenex”) have entered into an agreement to provide the trading infrastructure to the Pure Digital platform. In addition, State Street Bank & Trust Company and Puremarkets intend to explore the digital currency trading space via the Pure Digital platform based on an existing LOI between the parties.

Currenex is a market-leading technology provider offering high-performance technology for anonymous and disclosed trade execution. The agreement with Currenex enables rapid set-up of the Pure Digital platform and trading is expected to commence in 2021.

The Pure Digital trading platform will be the first of its kind, offering a wholesale interbank market for Tier 1 investment banks to trade bitcoin and other digital assets. Pure Digital is in discussions with several other Tier 1 investment banks to use the platform, which will provide a high throughput OTC market for digital assets and cryptocurrencies with physical delivery and bank custody.

“It is an important step for Pure Digital that one of the leading banks in the world is now publicly declaring their support for Pure Digital. We believe this will help Pure Digital accelerate their development. That Currenex will provide the technology platform is also important. Currenex is a company and an infrastructure that most of the leading banks in the world already are familiar with and trust. This could further speed up the process of attracting other Tier 1 banks” says Torbjørn Bull Jenssen CEO of Arcane and continues; “Institutional trading is the final frontier for the institutional adoption of cryptocurrencies and Arcane is excited to be a part of that with Pure Digital. Pure Digital leverages an experienced team from the FX industry across sales, trading and product development and a proven track record, delivering a similar platform for banks trading FX.”

Lauren Kiley, the CEO of Pure Digital commented “We are very excited to announce State Street’s involvement in this initiative. They are exploring digital asset trading with us and also providing the technology as we prepare to bring the institutional market exactly what it needs.” Campbell Adams, the Founder of Pure Digital added, “This is a significant and important step for the digital currency space. Pure Digital has purposefully built an ecosystem on next generation components throughout the full trade cycle with many important developments to come.”

Torbjørn Bull Jenssen, CEO, Arcane Crypto AB

e-mail: post@arcanecrypto.se

web: investor.arcanecrypto.se

About Arcane Crypto

Arcane Crypto develops and invests in projects, focusing on bitcoin and digital assets. Arcane operates a portfolio of businesses, spanning the value chain for digital finance. As a group we deliver services targeting payments, investment, and trading. In addition, we have a media and research leg.

Arcane has the ambition to become a leading player in the digital assets space by growing the existing businesses, invest in cutting edge projects, and through acquisitions and consolidation.

The Company is listed on Nasdaq First North Growth Market and Mangold Fondkommission is Certified Adviser, tel. +46 8 5030 1550, e-mail: ca@mangold.se, web: www.mangold.se.

About Pure Digital

Pure Digital is an interbank marketplace for cryptocurrency price discovery and exchange of wholesale risk provided by Puremarkets. Pure Digital will provide a best-in-class primary institutional marketplace, with a consortium of banks as liquidity providers, custodians, and clearers. Expect meaningful trade size along with price granularity and transparency. The solution uniquely offers pre-trade bilateral credit and multi/smart custody. Pure Digital will also feature the ability for banks to select their counterparties, enabling compliance over geographies with different regulatory environments. The management team bring many years of experience at top tier banks and have successfully delivered a similar platform for the FX market.

The trading environment is currently in beta testing for selected customers of the banks which have signed, or are in the process of signing, LOIs with Pure Digital.

An important next step for Pure Digital is the banks going public with their support for the platform and thereby creating increased interest and market awareness about Pure Digital’s offering.

For further information about Puremarkets and the Pure Digital platform please see: https://puredigitalmarkets.com/

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Disclaimer
All transaction are carrying out by SiLLC, a private portfolio management assembly. This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of SiLLC and/or its members. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to SiLLC’s advisory activities relates to SiLLC Assembly International.


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