top of page

DeFinity records world's first live cash foreign exchange (FX) trade to its permissionless layer-1

Updated: Apr 19, 2022


LONDON, Jan. 12, 2022 /PRNewswire/ -- DeFinity, an institutional digital asset ECN and DeFi marketplace for foreign exchange, digital assets and CBDC, announces the world's first settled cash FX trade written to its permission-less layer-1 WeOwn blockchain.


Source


https://www.prnewswire.com/news-releases/definity-records-worlds-first-live-cash-foreign-exchange-fx-trade-to-its-permissionless-layer-1-blockchain-301458646.html


Michael Siwek, co-founder and Chief Revenue Officer of DeFinity Markets, says: "The opportunities for DeFinity across both digital and traditional asset classes are vast and underpinned by the adoption of blockchain technology. The timing to print settled cash FX and digital asset transactions to the blockchain infrastructure has come at an opportune moment in line with our recently announced Cobalt partnership."


The OTC foreign exchange market has been opaque since its electronification in the late 90's. Prices vary across venues, which can make it difficult to establish an even execution benchmark.


Ashwind Soonarane, co-founder and COO of DeFinity Markets, says: "We are immensely proud of deploying our technology at such an exciting time for the digital asset and blockchain space, helping our institutional clients achieve and retain full transparency around best execution practices."


Anonymised or fully disclosed data can be recorded in real-time, or on a delayed basis to protect proprietary strategies. Clients can customise certain components of the service to meet their needs around internal and external reporting requirements.


Manu Choudhary, co-founder and CEO of DeFinity Markets, added: "DeFinity is incredibly fortunate to operate on one of the fastest third generation, layer-1 blockchains, which affords the platform the ability of being highly-scalable, performance-driven and focussed on transparency & decentralisation."


Chris Park, co-founder and CFO of DeFinity Markets, concluded, "The willingness from counterparties to report transactions on a permissionless blockchain demonstrates the preparedness of the market to lift the veil around some traditional FX market friction points, which will add benefit to the buy-side and sell-side communities. Off the back of these developments, we are truly excited that DeFinity went revenue positive in December 2021 with the first live trading client."


DeFinity offers counterparties the ability to trade and record the full lifecycle of transactions on the layer-1 blockchain. With the unique hybrid architecture of the WeOwn layer-1 blockchain, users of the service can opt out of the permissionless channel and instead retain full privacy with a permissioned blockchain, sharing data with select counterparties, regulators and third-party analytics vendors.


DeFinity is institutional custody agnostic and its ecosystem allows for a wide range of custodians to interact with its buy-side and sell-side participants, whilst also allowing those participants to be fully flexible as to execution venue. DeFinity has always held the vision of creating the environment to realise the inflexion point for institutions as FIAT & crypto converge. Establishing a market leading position with our partners in both individual asset classes will position us to accelerate the delivery of our roadmap.


To view transactions recorded to our permissionless layer-1 blockchain, please use our blockchain explorer or visit our Medium blog at:


https://explorer.weown.com/


Active subscribers can access granular transaction data in the DeFinity block explorer admin portal on a white-label basis:


https://medium.com/definity-network/definity-records-worlds-first-live-cash-foreign-exchange-fx-trade-to-its-permissionless-layer-1-36e9e3ac5d8



Comments


DeFinity-Logo-website-2.png

+44 (0) 20 3290 6580

ops@definitymarkets.com

​

1 Cornhill 

London EC3V 3ND

  • 1200px-Medium_logo_Monogram.svg
  • LinkedIn

© 2025 All rights reserved

Trading services, liquidity solutions and advanced algo execution tools are available to those meeting the Professional Clients definition in the EU Markets in Financial Instruments Directive (“MiFID II”) and in compliance with local law and regulation. 

 

DeFinity Markets Limited is a VASP regulated business under the rules of the Mauritius Financial Services Commission. DMALINK Jersey Limited is registered in Jersey under JFSC VASP rules. The settlement agent is a fully regulated entity in either of those jurisdictions as outlined in the Platform Agreement.
 
None of the information made available through definitymarkets.com should be construed as providing any type of investment or other advice, nor should it be considered as solicitation, recommendation, endorsement or offer to purchase or sell any financial security or other financial instrument including digital assets. Anyone wishing to invest in any of the products outlined on definitymarkets.com or any online or offline marketing material, provided by us, should seek independent financial or professional advice.

 

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. A good rule of thumb is not to invest more than 10% of your money in high-risk investments. Read more.
 
DeFinity Markets Limited not provide any of its services or solutions to retail clients as categorised under (MiFIDII).Our ACCEPTABLE USE POLICY is available online. Our CDD, AML, CFT Procedures are available online at definitymarkets.com/procedures.
 
The brand "DeFinity Markets" is Trademark protected under the Trade Markts Act 1994. DeFinity and all other DMA LINK LIMITED product or service names are registered trademarks or trademarks of DMALINK Group Companies in the United Kingdom and other countries. Other brand and product names are trademarks of their respective companies.
 

The Institutional Digital Assets ECN > Execution · Settlement · Fiat on/off ramp · Deliverable T+0 Foreign Exchange · GUI · API · VOICE Trading · TradFi Management · Regulated
bottom of page