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Q2 2023 update

July 10, 2023

During the second quarter, Finery Markets experienced a period of extensive innovation and growth. Our team consistently pushes the limits and continuously aims to deliver an unmatched experience to our valued clients. And in the second quarter, we successfully accomplished this objective.

Q2’23 operating numbers reveal a remarkable trend - trading volumes of crypto-to-stablecoins have continued to surge despite the overall decline in crypto asset prices, exhibiting a remarkable growth of 23% YoY. These volumes have contributed a substantial 37% to the total trading turnover for both FM Marketplace and FM Liquidity Match in Q2. This growth showcases the multifaceted functions served by stablecoins within the ecosystem. In addition to providing a relatively secure "parking space" for crypto volatility, stablecoins have emerged as a vital bridge between fiat currencies and crypto-assets, facilitating both trading and collateral purposes.

Finery Markets proudly introduced FM Liquidity Match - a revolutionary electronic OTC-as-a-service for digital assets. This groundbreaking trading solution, equipped with our proprietary matching engine, is ready to be deployed, empowering market players to launch a fully electronic OTC trading business and effortlessly manage client relations throughout the entire trade cycle. Floating Point Group, an esteemed organization, was the first to embrace this extraordinary innovation.

A captivating livestream session titled "How to run an OTC prime-brokerage with FM Liquidity Match" held by Finery Markets captured the attention of 135 industry experts. The esteemed panel, led by Sergey Klinkov and featuring Leo Hmelnitsky, Head of Strategic Partnerships at Finery Markets, Peter Eliades, former Global Head of Distribution at Floating Point Group (FPG), Michael Rabkin, Global Head of Business Development at DV Chain, and Boris Sebosik, Head of OTC at Wincent, delved deep into the dynamics of the crypto market, exploring the unique challenges faced and the pivotal role of technological innovation in shaping the future of prime-brokerage.

Bequant, the digital assets prime broker and exchange, has also forged a partnership with Finery Markets, eagerly adopting our remarkable FM Liquidity Match service. Leveraging our cutting-edge technology and liquidity, Bequant has amplified its client relationships to offer an OTC prime brokerage service, expanding its product portfolio and seamlessly adding OTC liquidity to its existing prime brokerage services.

In Q2 Finery Markets has also successfully completed a comprehensive Web Application Penetration testing, conducted by the globally recognized cybersecurity consulting firm, UnderDefense. This rigorous evaluation, carried out between April 28 and May 8, 2023, has bestowed our Web Application's security framework with an exceptional grade of "A". According to UnderDefense's stringent grading criteria, this "A" grade signifies that the security protocols at Finery Markets surpass the "Industry Best Practice" standards, reaffirming our unwavering commitment to safeguarding our clients' interests.

An extraordinary collaboration has taken place between Finery Markets, Coincub - an exclusive crypto research and analysis platform, and Panterra finance - a renowned provider of international business services. Together, we have produced a report that delves into the global banking industry's support for the crypto economy. The findings are truly fascinating. Europe emerges as the most crypto-friendly region worldwide, with a staggering 55 banks backing the industry. Asia secures second place with 24 banks, while North America falls to third position due to negative sentiment and the loss of several crypto-friendly banks since the beginning of 2023.

A momentous occasion was marked by Finery Markets with the Crypto B2B Meetup & Networking session in Limassol. This extraordinary event brought together over 60 delegates from companies across diverse financial disciplines, creating a vibrant space for knowledge sharing and fostering invaluable networking opportunities.

In the second quarter, our business development team had the opportunity to participate in a series of remarkable events held worldwide. Among them were the Web Summit in Rio, Consensus by Coindesk in Austin, Money 2020 in Amsterdam, Crypto Asset Conference in Frankfurt, FMAS in Johannesburg, and Latitude59 in Tallinn. These events brought together industry leaders and innovators from various corners of the globe, providing our team with valuable networking opportunities.

At Finery Markets, our pursuit of excellence is ceaseless. Stay tuned for more updates, more innovations, and a never-ending stream of excitement.

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