Membrane Announces First Derivatives Trade Settled on Network
NEW YORK, Nov. 17, 2023 /PRNewswire/ — Membrane Labs Inc., a leading institutional-grade digital asset settlement and workflow management platform, today announced the successful completion of its first derivatives settlement with prominent trading firms QCP and Wakem Capital.
The transaction seamlessly moved margin in fiat, showcasing the platform’s ability to facilitate the settlement process for derivatives transactions through a versatile, custody-agnostic API and blockchain interface.
“Our mission at Membrane has always been to bridge the gap between traditional finance and the world of crypto assets,” said Carson Cook, CEO of Membrane. “This successful transaction is a testament to our platform’s capacity for innovation and our commitment to providing a secure and efficient settlement network. It represents a significant step forward in our work with market leaders like QCP and Wakem Capital, demonstrating our mutual dedication to advancing the digital asset economy.”
The transaction allowed both parties to experience the full scope of Membrane’s settlement network, including its capacity for handling various collateral arrangements and currencies. Utilizing fiat for margin purposes was a deliberate choice, showcasing Membrane’s versatility in building seamless integrations across both traditional banking and custody providers.
“As a global leader in digital assets trading, we are delighted to support Membrane’s journey as an investor, and the first in the market to experience their settlement capabilities in derivatives. With increased efficiency in execution and settlement, this transaction is a first step towards accelerating the convergence of products and capital flows from the traditional finance and digital assets industry,” said Darius Sit, Founder & CIO of QCP Capital.
“The successful execution of this transaction using Membrane’s network is significant,” commented Wakem Capital Mgmt founder John Vincent. “It serves as a clear indicator of the platform’s readiness to meet the growing needs of derivatives execution & settlement in the digital asset universe. Just as we saw this development in the FX markets in the 1990s, we see Membrane taking the first step to provide execution, settlement, & counterparty management in an integrated platform.”
About Membrane
Membrane is a technology platform offering a variety of enterprise-grade clearing, settlement and lending applications integrated with a custody-agnostic settlement network. Membrane’s platform allows for seamless management and settlement of OTC spot trades, loans, derivatives, and associated collateral management. Visit: www.membranelabs.com
For more about QCP, visit: www.qcp.capital
For more about Wakem Capital, visit: www.wakemcapital.com
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