FinTech Automation, LLC announces the launch of its DeFi Exchange clearing & settlement service (DEX Clearing) in partnership with Austin Capital Trust Company, LLC. Using FTA’s UniFi CORE system, Austin Capital will provide custody and agent services to DEX Clearing.
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Decentralized Finance (DeFi) has emerged as a transformative force in the financial sector, enabling trustless transactions, enhanced transparency, and broad accessibility. However, one significant challenge to its mass adoption lies in the integration of fiat currencies with cryptocurrencies, particularly in the realms of clearing and settlement. In traditional finance, there are clearing and settlement entities such as the Federal Reserve, DTCC for securities, and Card Networks. In DeFi, however, the absence of such centralized entities creates a need for innovative solutions to ensure trust, efficiency, and transparency.
To bridge this gap, DEX Clearing offers a clearing and settlement gateway for DeFi companies and financial institutions to bridge banking with DeFi. Austin Capital is now the first trust bank utilizing the DEX gateway and provides DeFi companies and other financial institutions the ability to offer clearing and settlement services to facilitate seamless interaction between fiat and DeFi.
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FTA’s UniFi CORE system provides banks, credit unions, wealth management firms, and fintechs with integrated digital banking, wealth management and trading capabilities. UniFi supports all asset classes, including cryptocurrencies and other alternative assets, with real-time market data integration. It empowers users to incorporate these assets into diversified portfolios while providing an intuitive and efficient way to manage investments, bridging traditional and decentralized finance ecosystems.
The partnership between FinTech Automation’s Defi Exchange and Austin Capital enables banks, credit unions, and fintechs to access a fully integrated platform that supports all asset classes and offers robust clearing and settlement capabilities for decentralized finance.
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Source – PR Newswire
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