N3XT Joins Clear Markets’ Collateralizer Network for 24/7 Dollar Derivatives Collateral
By Unchained
AI summary of the source article
Wyoming-chartered bank N3XT has joined Clear Markets' Collateralizer network as a dollar custodian. The integration enables institutions to post U.S. dollars held at N3XT as 24/7 margin for crypto derivatives trading on the Clear Markets Swap Execution Facility.
Why it matters
Clear Markets president Shawn Dorsch stated that "Our goal is to make it easier for institutions to trade swaps and other derivatives while holding their collateral safely at an independent bank custodian."
Key facts
- N3XT joined Clear Markets' Collateralizer network as a custodian, enabling 24/7 dollar collateral for institutional crypto derivatives.
- N3XT operates under Wyoming's special purpose depository institution charter, barring lending and requiring liquid assets equal to 100% of deposits.
- Firms can meet initial and variation margin calls on nights and weekends without cash leaving N3XT.
Source excerpt · Unchained
The Wyoming-chartered bank started by former Signature Bank executives will hold U.S. dollar collateral for trades on Clear Markets' CFTC-registered swap venue. The post N3XT Joins Clear Markets’ Collateralizer Network for 24/7 Dollar Derivatives Collateral appeared first on Unchained .