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Case study

Constanta Finance: A New Crypto Broker's Experience with Finery Markets

Constanta Finance, a new crypto broker from the Czech Republic, began its operations just three months ago. An existing client and industry colleague recommended Finery Markets to Constanta Finance, so its first venture into crypto liquidity was through FM Marketplace, an ECN providing a single access to a range of liquidity providers.

The Challenge:

Constanta Finance sought a trading infrastructure capable of offering a variety of crypto-to-fiat and crypto-to-crypto asset pairs, with a particular focus on stablecoins-to-EUR pairs. The firm also needed to select regulated liquidity providers that met their specific needs, prompting them to engage in discussions with several potential partners via Finery Markets.

In addition to the trading infrastructure, the decision-making process also involved assessing various aspects such as regulatory status, necessary licenses, and custodian and banking partners.

The Solution:

The comprehensive approach of Finery Markets proved to be a perfect match for Constanta's needs, especially during the initial stages of their business.

It was our company's first transaction. We appreciated the user-friendly interface of FM Marketplace, the support we received from the team during the onboarding stage, and the reporting feature which made all our transactions traceable.

Marios Kyriakou, Director at Constanta Finance

The onboarding process to the FM Marketplace was smooth and time-efficient, enabling Constanta Finance to quickly transition from a startup to an operational business. The FM Marketplace's reporting feature facilitated the export and transfer of trade data to Constanta's core systems in a compliant manner, saving significant time and effort at the back-office level.

Security:

Security was a significant factor for Constanta Finance. The firm appreciated Finery Markets' SOC-2 Type 1 certification, which bolstered the trust they had in the strong recommendation they received.

With a crypto broker license and the backing of Finery Markets, you don't really need any other trading system or infrastructure. You'll need to select liquidity providers, establish bank relationships, set up KYC protocols, and meet other similar requirements. There's no need to spend extra on infrastructure. That's the key advantage

Marios Kyriakou, Director
at Constanta Finance

The Outcome:

Constanta Finance is now contemplating a move from a self-hosted system to operate exclusively through Finery Markets. This move would eliminate the need for data transfer and other operational inefficiencies.

The firm plans to grow its business and serve its clients by leveraging Finery Markets' robust trading infrastructure without incurring additional costs. The company is currently exploring the potential benefits of using FM Liquidity Match, which could streamline their entire business operation.