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QCP and Wakem Capital Derivatives Settlement on Membrane

November 20, 2023
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Membrane Team
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Leading trading firms QCP and Wakem Capital have marked a significant milestone by completing an inaugural derivatives settlement using Membrane’s new derivatives platform. This transaction seamlessly handled margin movements in fiat, underscores our platform’s innovative capability to streamline settlements for derivatives transactions. Leveraging a powerful and versatile custody-agnostic API and a robust blockchain interface, Membrane demonstrates its prowess in evolving the landscape of derivatives trading for institutions.

FOR IMMEDIATE RELEASE

Membrane Announces First Derivatives Trade Settled on Network

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[New York, NY] — [November 16, 2023] — PRNewswire — Membrane Labs Inc., a leading institutional-grade digital asset settlement and workflow management platform, today announced the successful completion of its first derivatives settlement with prominent trading firms QCP and Wakem Capital.

The transaction seamlessly moved margin in fiat, showcasing the platform’s ability to facilitate the settlement process for derivatives transactions through a versatile, custody-agnostic API and blockchain interface.

Carson Cook headshot

Carson Cook, Membrane CEO

“Our mission at Membrane has always been to bridge the gap between traditional finance and the world of crypto assets,” said Carson Cook, CEO of Membrane. “This successful transaction is a testament to our platform’s capacity for innovation and our commitment to providing a secure and efficient settlement network. It represents a significant step forward in our work with market leaders like QCP and Wakem Capital, demonstrating our mutual dedication to advancing the digital asset economy.”

The transaction allowed both parties to experience the full scope of Membrane’s settlement network, including its capacity for handling various collateral arrangements and currencies – fiat and digital assets. Utilizing fiat for margin purposes was a deliberate choice, showcasing  Membrane’s versatility in building seamless integrations across both traditional banking and custody providers.

“As a global leader in digital assets trading, we are delighted to support Membrane’s journey as an investor, and the first in the market to experience their settlement capabilities in derivatives. With increased efficiency in execution and settlement, this transaction is a first step towards accelerating the convergence of products and capital flows from the traditional finance and digital assets industry. We are confident this will encourage more players to look into investing in crypto derivatives.” said Darius Sit, Founder & CIO of QCP Capital.

“The successful execution of this transaction using Membrane’s network is significant,” commented Wakem Capital Mgmt founder John Vincent.  “It serves as a clear indicator of the platform’s readiness to meet the growing needs of derivatives execution & settlement in the digital asset universe.  Just as we saw this development in the FX markets in the 1990s, we see Membrane taking the first step to provide execution, settlement, & counterparty management in an integrated platform. We look forward to working with Membrane on the development of this platform and the benefits it will offer the entire ecosystem.”

Membrane’s settlement network is designed to facilitate a broad range of trading and lending applications, offering secure, transparent, and efficient operations for institutional users. With a custody-agnostic approach, Membrane ensures flexibility and scalability, setting a new standard in the digital asset space.

The Membrane team and their partners at QCP and Wakem Capital are excited to leverage this successful transaction to innovate further and expand services, driving evolution in digital assets.

About Membrane

Membrane is a technology platform offering a variety of enterprise-grade clearing, settlement and lending applications integrated with a custody-agnostic settlement network. Membrane’s platform allows for seamless management and settlement of OTC spot trades, loans, derivatives, and associated collateral management.

About QCP

QCP Capital is a leading digital asset trading firm in Asia with a global footprint. Founded by industry veterans, the company specializes in providing comprehensive trading solutions in the cryptocurrency markets. With a strong focus on proprietary trading, QCP Capital leverages advanced technology and deep market expertise to capitalize on trading opportunities across various cryptocurrency assets and derivatives. As a liquidity provider, the firm facilitates significant trading volumes, offering seamless execution and optimal prices for multiple cryptocurrencies. Learn more at www.qcp.capital

About Wakem Capital

Wakem Capital is a pioneering investment firm specializing in digital assets and blockchain technology. With a focus on defined risk strategies and derivative structures that capitalize on asymmetric crypto opportunities, Wakem Capital has established itself as a forward-thinking player in the financial technology landscape. Our firm provides comprehensive solutions for individual and institutional investors looking to optimize their investments in the cryptocurrency markets. Learn more at www.wakemcapital.com

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