DeFinity Markets Co-Founder Michael Siwek said on Tuesday that new clients at the crypto ECN will receive a sizeable discount off monthly fees if Donald Trump is elected president.
“If the Republican party wins the 2024 presidential election we will discount 50% of November’s trading fees for all new clients for the first 100 milion/per account transacted on DeFinity Markets,” said Siwek in a social media post.
DeFinity Markets is one of several firms looking to tap into demand among financial institutions for access to cryptocurrencies.
One problem for larger players is that liquidity on exchanges, which were primarily built around retail clients, is often poor.
Companies like DeFinity help to solve this problem by letting firms trade directly against market makers, often in an environment that is something akin to a ‘dark pool’.
Another factor that has been at play here is custody, with exchanges often not set up to offer the type of custodial services that financial institutions require.
DeFinity is part of the same group that owns FX trading venue DMALINK. The crypto ECN has virtual asset service provider licenses in Mauritius and Jersey.
