Koine is an international digital assets custody and settlement platform that straddles both old and new worlds. With a growing demand for institutional investment in digital assets, the company is finding its ‘governance first’ approach is hitting the mark.
We spoke to founder Phil Mochan to find out more…
Koine provides the market infrastructure to help companies transition into digital finance. Critically it eliminates counter-party credit and insolvency risks in a compliant framework. As Mochan explains, “The financial market infrastructure has to be suitable for those companies with their feet planted in the existing modus operandi, so its about offering transition pathways to enable companies to go step-by-step”.
This approach has already attracted multiple partnerships including Bitfinex, GCEX, and Abu Dhabi Global Markets (ADGM), among others.
Bringing finance up to speed
Finance typically lags behind other industries in the adoption of technology and, as Mochan points out, the digitization process itself is about 30 years behind the telecommunications and media sectors. This presented a huge opportunity to the team as early as 2015. “Our experience in algorithmic trading shows that when you dematerialise [digitise] assets you get huge growth in trading volumes – you get exponential growth”.
Fast forward to 2020 and Koine’s digitised post-trade process is complete and significantly more efficient – compressing what is typically a four-tier process, to a single-tier process. The platform offers users cleared settlement of funds with legal finality at point of settlement and all at sub-millisecond speed.
As Mochan states, “This just cannot happen on a blockchain cycle!” With an operational capabilty of 100 million transactions per second, Koine is finding a ready-market of algorthmic traders.
A global vision
Koine currently operates under the UK regulatory framework but its vision is of a borderless and global financial marketplace. The company has just received a provisional license to provide custody for virtual assets in the Abu Dhabi Global Markets (ADGM) and over the next 12 months it is looking to obtain additional securities licenses in the UK and Luxembourg, with a further strategy to do the same across the US.
Learn more about Koine here