Makor Group’s digital asset arm, Enigma Securities, launches access to on-chain yield products backed by real-world financial assets powered by OpenTrade
Enigma Securities is a leading, FCA registered digital asset liquidity provider owned by Makor Securities, a traditional finance regulated agency broker which processes $10’s of billions of dollars in trades annually for its network of institutional clients. As an extension of its full-service trading solutions, Enigma has partnered with OpenTrade, a Circle-backed technology company that builds USDC / EURC real world financial asset yield products,to launch a new product that allows Enigma’s institutional clients to easily invest digital asset holdings in and out of U.S. Treasury Bill backed yield products through their existing OTC trading desk set-up.
Enigma clients can access this product without any additional onboarding requirements, and can immediately benefit from the ability to unlock stable, predictable returns without having to off-ramp into USD or implement any new processes / systems. In addition to the ease of use, the product has been purpose built to cater to other unique requirements and value drivers for these institutional clients, including providing true fixed rate yields fully collateralised by real-world financial assets, and secured in a fully ring-fenced, bankruptcy remote structure managed through OpenTrade’s bank-grade legal structure and off-chain operations. In addition to true fixed rate yields and security they can trust, the solution makes it easy for clients to move in and out of positions with completely flexible withdrawal and re-invest options.
Enigma and OpenTrade have begun processing live transactions, and the product is now available to Enigma’s global client base, spanning across Europe, Latin America, Asia, and further, as the firm looks to continue to expand its offerings for newer entrants to the ecosystem .
Makor Group’s position on real world asset tokenization
Michael Halimi, co-founder and CEO of Makor, said, “At Makor, we are proud to be at the forefront of real-world asset tokenisation. One of our major theses for the next few years is what we call hyper stabilisation – that being, that the proven provenance of stablecoins as assets of real value transfer will propel them to an inevitably more prominent role in wealth and asset management. The question with blockchain solutions has always been in proving that they are better than comparable TradFi rails.
The acceptance of stablecoins as core building blocks has been a huge step towards that over the last three or four years, and architectures like OpenTrade’s and Circle’s are the next big step forward in our view”.
The journey to develop the solution and client demand
Enigma embarked on developing this solution in response to huge amounts of client demand for products that would allow them to take advantage of the high, low risk returns associated with investment in ‘real-world’ financial assets like U.S. Treasury Bills, without having to off-ramp or manage new cumbersome systems / processes.
“As interest rates have steadily risen, we have seen a huge amount of demand from our institutional clients for a product that would allow them to take advantage of these high risk adjusted returns. All together we anticipate driving $100’s of millions of dollars worth of volumes through our new solution based on this huge amount of client demand.” – Philippe Kieffer, Head of Business Development, Enigma Securities
Following an extensive partner evaluation and selection process, Enigma ultimately selected OpenTrade as its partner to power this solution, based on the combination of its robust, bank-grade legal protections, and enterprise technology stack.
OpenTrade is a platform that powers secure, compliant access to real world asset yield products on-chain. OpenTrade’s launch products include USDC lending products secured by U.S. Treasury Bills, and white-label solutions that allow companies to build
About the Makor Group and Enigma Securities
The Makor Group (“Makor”) is an international brokerage and investment banking firm established in March 2011 by Michael Halimi and Avi Bouhadana, two ex-senior managers at Cantor Fitzgerald Europe. Makor is authorized and regulated by the FCA and Makor’s core business is to provide financial securities research and execution to institutional investors across a spectrum of products including Cash Equities, Fixed Income Derivatives, FX and Digital Asset.
With o ces in New York, Dallas, London, Paris, Geneva, Gibraltar, Monaco, Tel Aviv, Singapore and Melbourne, and over 200 group employees, Makor offers its clients 24−hour global trading providing a single point of contact for more than 90 execution venues in cash equities only. Aside from Makor-branded entities, the group includes the Oscar Gruss h Son, Inc. brokerage, the Churchill Capital brokerage, and Makor’s cryptocurrency arm, Enigma Securities.
Enigma Securities Ltd. is a leading digital asset liquidity provider and appointed representative of Makor Securities London Ltd, an FCA-regulated brokerage firm with a 10−year track record of excellence. Leveraging technology infrastructure built to compete on Wall Street, Enigma has rapidly become one of the most competitive participants in the digital asset market with its proprietary trading platform. The firm’s dedicated team of research analysts provide exclusive insights into the evolving digital asset industry through periodic reports on regulatory developments and quantitative analysis, to advancements in blockchain technology.