Digital RFQ Chooses Koine as Custodian for its First Digital Asset Offering

London-based digital asset OTC broker, Digital RFQ (DRFQ) announced this week that it has chosen Koine to act as custodian for their first commodity financing token, PGX, launched earlier this month in partnership with Atom Asset Exchange (AAX).
DRFQ said that Koine was selected for its ultra-secure Digital Airlock Ⓡ solution, a model which replaces the cold store and hot wallet model that exposes private keys and leads to poor operational scalability.

Its role as custodian for DRFQ further signals the arrival of institutional-grade market infrastructure and opens the way for the participation of institutional capital in digital asset trading, according to the firm.
As an independent provider of settlement and segregated custody services for digital assets, plus settlement for digital assets versus fiat money, Koine delivers a institutionally compliant post trade solution in a manner that resolves counterparty and credit risks within a regulated governance framework.
Koine does this with a service model, which dematerialises blockchain-based bearer assets and through its proprietary security model, which provides both improved security and operational scalability.
Gold demand has been particularly strong in 2020 as it represents a “flight to safety” asset. The PGX token allows both institutional and retail investors to directly engage with a traditional asset class through the new blockchain based digital medium, according to DRFQ.
Adding more digital asset offerings
 “As we make more partnerships like the one we have made with Digital RFQ, we’re continuing to build and deliver the infrastructure and vision that industry participants need to protect and leverage their digital assets. We look forward to delivering on our promises with Digital RFQ and the PGX token,” Hugh Hughes, Chairman and CEO at Koine, said.
 “Koine was the obvious choice to custody our first digital asset offering, PGX. Their understanding and focus on solutions for institutional investors is exactly aligned to the business we are building at Digital RFQ. We are looking forward to adding more and more digital asset offerings onto Koine’s world class custody solution as we launch them,” Mike Greenacre at Digital RFQ, noted.
This project is the first in a series of tokens in the DRFQ pipeline. A UK-based Securities token project is launching on the new Archax London-based MTF exchange in the summer, as well as more Gold 3-6 month duration financing projects in development, according to the company.