PR9 Network Launches Institutional Trading Platform for Assets Stored in Cold Wallets
The PR9 Network has launched a real-time trading and settlement platform for digital assets stored on cold storage wallets.
Essentially, institutional clients will be able to trade in a variety of crypto assets, including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin without having to move their asset holdings held in their preferred hardware crypto wallets.
James Forrester, the CEO of the PR9 Network, noted that crypto investors are currently forced to choose between actively trading or keeping their multibillion-dollar assets safely on cold storage platforms. The PR9 intends to solve this dilemma by allowing such clients to trade while they assets are securely stored on offline wallets.
Moreover, the network is looking to work with various cold wallet companies to create an agnostic trading platform that will solve the challenge of illiquidity of stored assets.
Additionally, the PR9 Network will launch a council as part of their goal to build a solution that caters for the needs of the crypto space. The council, whose primary role is define the future of PR9, will comprise of experts in both blockchain investments assets and traditional finance ecosystems from leading investment companies such as Etana, Seabury Global markets and Kraken.
The council will work to ensure that the PR9 complies with all regulatory requirements while offering first-rate services to clients and the larger blockchain sector.
Brandon Russell, the CEO of Etana, said that the main challenge facing crypto investors is theft. He further added that it is currently difficult to move assets from cold wallets to online exchanges. Brandon expects the PR9 solution to solve these issues and enable clients to trade in a secure environment with sufficient liquidity.
On his part, Rob Fleischer, the CEO of Seabury Global markets, said that he was eagerly awaiting the launch of the PR9 Network to their clients, as it will increase the usefulness of assets stored in cold wallets.