FalconX announced in a press release on Tuesday that its new exchange desk will offer 20 different currency pairs to cryptocurrency trading firms, exchanges and brokers. These currency pairs will also include major currencies such as the US Dollar, Euro and British Pound. In this way, cryptocurrency market participants will be able to seamlessly integrate with traditional financial systems.

The newly established foreign exchange desk will be managed by an experienced team. The team will be led by Ben Sebley, who previously worked at BCB Group. Sebley will be joined by Richard Usher as head of FX trading and Lux ​​Thiagarajah as head of trading FX. A team of five people in total will run FalconX’s foreign exchange desk operations.

FalconX is known as the world’s largest digital asset prime broker offering access to more than 400 cryptocurrencies. The company not only provides trading and custody services to institutions, but also offers financing solutions. FalconX’s new foreign exchange desk adds foreign exchange trading to these services.

The foreign exchange desk specifically aims to establish new currency transfer gateways, called “fiat gateways”. Thanks to these gateways, institutional investors will be able to transfer funds quickly and securely between traditional currencies and cryptocurrencies. It also aims to increase transaction speed by offering the same-day settlement option.

In an emailed statement, FalconX’s Global Head of Revenue and Business Austin Reid emphasized that the new exchange desk is a critical step for the development of the global cryptocurrency market. “FalconX’s new exchange desk will help unlock the industry’s emerging capital markets at a critical time for global cryptocurrency adoption by seamlessly combining crypto and fiat currencies, enabling efficiency and integration between cryptocurrencies and traditional finance,” Reid said. “We will set a new standard,” he said.

In his statement, Reid also underlined that institutional investors will have easier access to digital asset markets thanks to the new foreign exchange desk. Reid added, “All institutional investors, from hedge funds to market makers, will now be able to participate more effectively in the digital asset markets by accessing the liquidity offered by our exchange desk. This will contribute to the strengthening and maturation of the structure of the digital asset market.”

FalconX launched a new service last month to increase interest from institutional investors. Thanks to this service, institutions can trade on stock exchanges while keeping their funds regulated and away from bankruptcy. This service, called “Prime Connect”, also includes features such as post-transaction placement, corporate loan facility and portfolio margin calculation. Prime Connect service, offered with FalconX’s exchange desk, enables institutional investors to participate in cryptocurrency markets safely and effectively.

As a result, the new foreign exchange desk opened by FalconX in London is considered an important step with the aim of becoming a bridge between the cryptocurrency market and traditional finance. This move will contribute to the growth of the digital asset market by increasing the interest of institutional investors in cryptocurrencies.