Cactus Custody, Matrixport’s compliant digital asset custody institution holding a Hong Kong TCSP license, announced today a strategic partnership with Fly Wing Technologies Pte Ltd (“Fly Wing”) to launch its OTC trading service platform for institutional clients, Cactus OTC Desk. Fly Wing is licensed as a Major Payment Institution by the Monetary Authority of Singapore (MAS) and can provide digital payment token services for OTC trading. This collaboration will provide institutional clients with secure, compliant, and transparent fiat settlement solutions, further reinforcing Cactus Custody’s mission to build a one-stop digital asset service platform.
Recently, Cactus Custody has integrated the Singapore Gulf Bank (SGB) system, enabling it to provide compliant fiat custody capabilities for institutional users, supporting 24/7 deposits and withdrawals. The launch of this OTC Desk will offer institutional users more digital asset/fiat exchange options, marking another step forward for Cactus Custody in bridging traditional finance and the Web3 sector.
Cactus Custody users must complete electronic identity verification (eKYC) on the Fly Wing platform to use this new service. Unlike the operating model of cryptocurrency trading platforms, Fly Wing completes OTC transactions via bank transfers, ensuring a high level of security, compliance, and transparency. At launch, Cactus OTC Desk supports USDT/USD and USDC/USD trading pairs, with more pairs to be added in the future.
Enhancing asset utilization efficiency remains a key factor for institutions entering the Web3 market. Cactus Custody stays true to its original intention, adopting industry-leading cryptographic technology, cold storage, and geographically isolated custody strategies to provide the highest level of protection for user assets. Meanwhile, the platform actively integrates fiat settlement capabilities through partnerships with compliant institutions to optimize asset utilization efficiency and strengthen institutional trust.
Wendy Jiang, General Manager of Cactus Custody, stated: “Cactus Custody has always prioritized user security, committed to building industry-leading security infrastructure, and, while ensuring the safety of user assets, creates conditions for institutional users to seamlessly participate in the Web3 market and seize market opportunities in a timely manner. This collaboration is based on this philosophy. Fly Wing’s dedication to security, compliance, and transparency will further enhance institutional user trust and attract more traditional institutions to enter the Web3 market.”
Fly Wing is the first OTC service provider integrated into Cactus OTC Desk. In the future, the platform will integrate more compliant OTC service providers to offer clients a wide range of choices to meet their individual needs.
About Cactus Custody
Cactus Custody is a professional digital asset custody platform under Matrixport Group with international regulatory qualifications, providing asset custody, DeFi access, OTC settlement, OTC trading, and other services to more than 300 institutions worldwide, managing assets exceeding tens of billions of dollars.
The platform is security-centric, compliance-based, and innovation-driven, adopting a cold and hot layered security architecture, integrating institutional-grade cryptographic technology and cold storage systems, and strictly implementing compliant risk control processes, committed to building globally trusted digital asset custody infrastructure.
