SFOX (San Francisco Open Exchange), has confirmed that it has been granted a trust charter. SFOX (San Francisco Open Exchange) is a trusted platform that offers multi-dealer services for investors and wealth managers. The company also offers a dark pool for large transactions and more than 20 liquidity providers .
SFOX is the first cryptocurrency company to be approved for Wyoming Trust status. SFOX will be known as SAFE Trust Company, Inc., or SAFE. It will give the firm greater authority and more confidence with financial institutions.
The Wyoming Division of Banking regulations also allow the firm to offer its financial services to institutions, private investors, and advisers.
SFOX can now offer investment services on its crypto platform (SOC2 certified) for Bitcoin and other currencies.
First NDF Clearing
SFOX’s SAFE Trust CEO Akbar Thobhani commented on the approval, “The new charter will allow us to provide secure and reliable investment, trading, and custodian services to a wide variety of digital assets. This will meet the needs of investors, especially small-to-mid-sized businesses that have had limited access to such investments up until now.
“Our mission is provide greater access to a wide range of digital assets in an efficient and secure manner. We are proud to have been approved for the charter as the first crypto platform. This will help us grow our custodial and related services.
SFOX recently cleared its first non-deliverable forward (NDF), contract between C2, and a financial company. The cryptocurrency company also appeals to investors looking for advanced market executions, deep liquidity and sophisticated execution algorithms.
Hedge funds can now access the top exchanges, market makers, and brokers over the counter through the platform. According to reports, SFOX has held discussions with market markers and large banks. Jane Street is also involved in these talks.
