BridgePort Launches its Middleware for Institutional Crypto Off-Exchange Settlement

Empowering Market Efficiency, Connectivity, and True Interoperability for Trading Firms, Exchanges, and Custodians

NEW YORK, Dec. 5, 2024 /PRNewswire/ -- BridgePort has announced the launch of its groundbreaking middleware platform, designed to enhance institutional crypto trading and settlement. Supported by industry leaders like Virtu, XBTO, Blockchain Founders Fund, Fun Fair Ventures, and Humla Ventures, the platform introduces essential off-exchange settlement infrastructure, connecting execution venues and custody providers for pre-order asset allocation and post-trade settlement.

Tailored for institutional trading firms, exchanges, and custodians, BridgePort eliminates the need for prefunding at exchanges and issuing unverified credit lines in OTC markets and breaks down barriers created by custodial walled gardens. Its infrastructure is designed to maximize capital efficiency, improve access to liquidity, and reduce operational friction. By enabling interoperability across centralized exchanges, decentralized platforms, and OTC markets—regardless of trading modality or collateralized asset type—BridgePort is reshaping institutional finance for the digital era.

Empowering market efficiency, connectivity, and true interoperability through real-time collateral pledging and dynamic credit allocation across trading firms, exchanges, and custodians.

"At Virtu, as a global market-maker across traditional finance and crypto assets, we understand the important role that networks like BridgePort play in enabling efficient and resilient markets," said Brett Fairclough, President and COO at Virtu Financial. Brett continued, "BridgePort's network delivers the critical connectivity and rigor necessary to address key infrastructure gaps and accelerate institutional participation in the growing crypto markets."

"BridgePort brings the connectivity and operational efficiency needed for institutional crypto adoption," said Aly Madhavji, Managing Partner of Blockchain Founders Fund. "We're excited to support this key innovation as the team is uniquely positioned to fill the gap in off-exchange settlement."

"As a pioneer in crypto trading, we understand the challenges of fragmentation and walled ecosystems. BridgePort addresses these barriers, paving the way for a scalable, interconnected trading ecosystem," said Philippe Bekhazi, CEO of XBTO"

Nirup Ramalingam, CEO of BridgePort, highlighted the team's expertise: "Our founding team brings decades of experience in building low-latency execution and settlement systems for FX and fixed-income markets. Drawing from proven solutions in traditional finance, the BridgePort platform has been custom-built to meet the unique demands of institutional crypto trading." With its focus on transparency, efficiency, and interoperability, BridgePort is set to transform how financial markets operate in the digital era.

About BridgePort

BridgePort is institutional middleware designed to address the capital inefficiency, credit risk, and fragmented liquidity that currently exist in crypto markets. BridgePort’s agnostic infrastructure allows for secure coordination of messages between exchanges, trading firms, and custodians alike. BridgePort serves as the institutional coordination layer for the off-exchange settlement of crypto through credit allocation and post-trade facilitation to better connect the tradfi & crypto ecosystems. BridgePort is built by a team with decades of experience in fixed income trading and building FX trading platforms for the world’s largest traditional financial institutions. It is supported by industry leaders like Virtu, XBTO, Blockchain Founders Fund, DIY Fund, Further Ventures, Fun Fair Ventures, and Humla Ventures.

Reposted from Source: PR Newswire