Investment Operations

PR9 Unveils Real-Time Trading and Settlement for Blockchain-Based Assets

Digital Asset Custody and Servicing

The PR9 Network (PR9) has unveiled its real-time institutional trading and settlement platform for blockchain-based assets held in cold storage.

The network will allow clients’ assets to remain in cold storage with their preferred custodian, while providing them with a mirror balance to buy, sell and lend a wide range of blockchain-based assets, beginning with BTC, BCH, ETH, ETC and LTC. PR9 said it will only charge ultra-low trading fees on executed trades.

“Currently, holders of blockchain-based assets must choose between keeping their assets secure in cold storage — estimated to be valued in the tens of billions of dollars — or generating a yield by engaging in trading and lending activities,” said Jamie Forrester, Chief Operating Officer of the PR9 Network. “The PR9 Network solves this key industry problem by eliminating the trade-off between security and generating a return, by providing clients with the ability to trade their PR9 assets with the knowledge that their underlying assets are being kept secure in cold storage,” added Forrester.

In support of its commitment to building a solution that is fit for the industry, the PR9 Network said it was also bringing together a Council to help input and shape the future of the network for the new age financial ecosystem. According to a company satatement, the Council will consist of industry experts and platform participants from the blockchain and traditional finance ecosystems, including Etana, a settlement and custody solution that services clients including cryptocurrency exchange, Kraken, and Seabury Global Markets, an affiliate of Seabury Capital, which is an investor in the fintech space and conducts fintech solution sales, marketing, and distribution within the international financial markets. These experts will collaborate to ensure the PR9 Network meets the needs of clients, custodians and the wider industry, as well as adhering to all necessary regulations and requirements.

“As our clients — including banks, funds and exchanges — amass significant amounts of blockchain-based assets, their main concern is security and theft,” said Brandon Russell, CEO of Etana. “However, the limitations of current infrastructure mean that it can take hours to move assets out of cold storage. The PR9 Network will transform the way our clients can utilise their assets and is perfectly positioned to open up this previously illiquid market,” Russell added.

Forrester also said the PR9 Network allows clients to trade their assets and custodians to immediately differentiate themselves from other providers in the market, by only having to plug into one network as opposed to developing their own. “The PR9 Network aims to work collaboratively with custodians and industry participants to create an agnostic solution which solves the industry-wide problem of the illiquidity of stored assets, and we hope the network will become an integral part of the blockchain industry,” Forrester concluded.