DrawBridge Lending or simply called DBL Digital, a US Commodity Futures Trading Commission (CTFC) regulated commodity pool operator and commodity trading advisor that helps investors monetize bitcoin and other cryptocurrency holdings through investment and financing products, on Wednesday, January 15, announced that it has added Gemini Trust to protect borrower assets and lender capital.
According to a press release published by Business Wire on January 15, this new product involves Gemini Trust Company’s custody service called Gemini Custody, which will act as escrow agent to support DBL Digital’s new product offerings.
DrawBridge Lending, based in Chicago, was founded in March of 2018 with a vision to provide the most reliable and efficient service for connecting institutional lenders with borrowers seeking to monetize their digital assets. It initiates USD loans secured by digital assets, and protect borrower assets and lender capital using a third-party, qualified and insured custodian which now also includes Gemini Trust, an institutional-grade custody service launched by Gemini Trust company in September of last year.
Jason Urban, CEO of DBL Digital, said:
“DBL Digital occupies a unique space in the industry offering sophisticated structures, robust risk management, and a priority on the safety of customer collateral. Combining forces with Gemini is a win-win for investors. We look forward to continuing our relationship with Gemini and building out additional investment vehicles within the Gemini ecosystem.”
The company also provides yield-enhancing advanced risk management strategies to institutional clients and accredited investors. According to the press release, the company helped Libertas Fund LLC, a quantitative multi-strategy digital asset fund managed by Hyperion Decimus, in implementing a strategy that produced above-market returns.
Chris Sullivan, portfolio manager at Hyperion Decimus. Commented:
“Hyperion Decimus sought out an effective and transparent way to implement a strategy that provided both yield and a hedging component on our digital assets and we were excited that DBL Digital could offer this solution utilizing Gemini Custody to efficiently and securely execute the strategy.”
As reported by Crypto Economy, Gemini Trust company launched its Gemini Custody on September 10, that introduced some innovative solutions for a custody service including multi-sig offline storage and whitelisting.
DBL Digital President and Chairman Thomas Anderson, citing reason to choose Gemini custody, said:
“We’ve chosen to work with Gemini because they are a regulated qualified custodian. Their institutional-grade, offline custody solution met our security concerns and provides many helpful features including sub-accounts and the instant ability to trade out of offline storage. Additionally, Gemini is one of the only exchanges to offer a clearing product specifically for the crypto market. We feel their innovation matches our desire to think outside-the-box to offer clients sophisticated financial solutions to serve their ever-growing needs.”