IPC, a secure trading and communications network for financial institutions, is adding a cryptocurrency platform through which IPC customers can create their own cryptocurrency Exchange-Traded Funds (ETFs). The new feature is via a partnership with ZoozBit. IPC has been anchored in the more traditional securities world of debt and equity since launch decades ago.
As regulators have denied crypto ETFs for the broader public, IPC is enabling ETFs for their institutional customers.
According to the company, any of IPC’s network of 6,400+ financial institution customers around the world now have the ability to create crypto ETFs based on any allocation model and strategy to capture the value of a basket of cryptocurrencies without directly owning the underlying assets.
Clients may also white label their crypto ETFs for third parties, creating additional revenue streams.
“Our partnership with ZoozBit continues to position IPC at the forefront of the growing digital currency market,” said Mike Smith, Director of Global Exchange Relations Management, IPC. “Now our customers can design and develop bespoke cryptocurrency ETFs, which offer an incredible way to capture the value of the increasingly diverse digital-asset market, without the need to own these assets directly.”
ZoozBit functionality is now available for testing via IPC’s Connexus Labs, a worldwide hosted infrastructure platform that facilitates the design and deployment of software projects and applications integrated with IPC products and services.
IPC adds that their collaboration with ZoozBit is one of several cryptocurrency and blockchain initiatives the firm has undertaken in the past year to address growing customer interest in institutional-grade cryptocurrency surveillance and trading options.