Enigma Securities is a leading, FCA registered digital asset liquidity provider owned by Makor Securities, a traditional finance regulated agency broker which processes $10’s of billions of dollars in trades annually for its network of institutional clients. As an extension of its full-service trading solutions, Enigma has partnered with OpenTrade, a Circle-backed technology company that builds USDC / EURC real world financial asset yield products, to launch a new product that allows Enigma’s institutional clients to easily invest digital asset holdings in and out of U.S. Treasury Bill backed yield products through their existing OTC trading desk set-up.

Enigma clients can access this product without any additional onboarding requirements, and can immediately benefit from the ability to unlock stable, predictable returns without having to off-ramp into USD or implement any new processes / systems. In addition to the ease of use, the product has been purpose built to cater to other unique requirements and value drivers for these institutional clients, including providing true fixed rate yields fully collateralised by real-world financial assets, and secured in a fully ring-fenced, bankruptcy remote structure managed through OpenTrade’s bank-grade legal structure and off-chain operations. In addition to true fixed rate yields and security they can trust, the solution makes it easy for clients to move in and out of positions with completely flexible withdrawal and re-invest options.

Enigma and OpenTrade have begun processing live transactions, and the product is now available to Enigma’s global client base, spanning across Europe, Latin America, Asia, and further, as the firm looks to continue to expand its offerings for newer entrants to the ecosystem .

Makor Group’s position on real world asset tokenization

Michael Halimi, co-founder and CEO of Makor, said, “At Makor, we are proud to be at the forefront of real-world asset tokenisation. One of our major theses for the next few years is what we call hyper stabilisation — that being, that the proven provenance of stablecoins as assets of real value transfer will propel them to an inevitably more prominent role in wealth and asset management. The question with blockchain solutions has always been in proving that they are better than comparable TradFi rails. The acceptance of stablecoins as core building blocks has been a huge step towards that over the last three or four years, and architectures like OpenTrade’s and Circle’s are the next big step forward in our view”.

The journey to develop the solution and client demand

Enigma embarked on developing this solution in response to huge amounts of client demand for products that would allow them to take advantage of the high, low risk returns associated with investment in ‘real-world’ financial assets like U.S. Treasury Bills, without having to off-ramp or manage new cumbersome systems / processes.

“As interest rates have steadily risen, we have seen a huge amount of demand from our institutional clients for a product that would allow them to take advantage of these high risk adjusted returns. All together we anticipate driving $100’s of millions of dollars worth of volumes through our new solution based on this huge amount of client demand.” — Philippe Kieffer, Head of Business Development, Enigma Securities

Following an extensive partner evaluation and selection process, Enigma ultimately selected OpenTrade as its partner to power this solution, based on the combination of its robust, bank-grade legal protections, and enterprise technology stack.

Source: OpenTrade