Finery Markets has introduced a new trading infrastructure specifically designed for institutional clients engaging with stablecoins. This move aims to tackle key challenges in the stablecoin market, such as mitigating the risk of assets losing their peg and improving how efficiently capital is used by institutions. The system includes features like private trading rooms, offering controlled access to secondary stablecoin liquidity. This development arrives as the broader institutional crypto infrastructure landscape sees significant momentum.
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Key takeaways from this launch include:
- A new platform built for institutional needs in stablecoin trading.
- Focus on reducing depeg risk and boosting capital efficiency.
- Private trading environments offering controlled liquidity access.
- Aligns with growing institutional interest and regulatory developments in digital assets.
Addressing Stablecoin Market Challenges
The stablecoin market has seen explosive growth, with its share of total crypto transactions jumping from 23% in 2023 to 62% by the first quarter of 2025. This surge highlights the increasing reliance on stablecoins for various financial operations within the crypto space. However, the proliferation of different stablecoin issuers and blockchain networks has led to increased market fragmentation and raised concerns about potential instability or “depegging,” where a stablecoin deviates significantly from its intended value (usually $1).
Finery Markets’ new infrastructure directly targets these issues. By providing a dedicated, controlled environment, it helps institutions navigate the complexities and risks associated with diverse stablecoin markets. Known for its non-custodial electronic communication network (ECN) and SaaS crypto trading services, Finery Markets has processed over $200 billion in client orders, indicating its significant role in the digital asset trading space. The new system builds on this foundation, aiming to shield institutional users from wider market shocks while providing access to a broad network of liquidity providers.
Context: Institutional Crypto Momentum and Regulatory Landscape
Finery Markets’ launch is happening amidst a period of accelerating institutional engagement with digital assets. In the United States, legislative efforts like the GENIUS Act are working towards establishing clearer regulatory guidelines for digital assets, which could pave the way for greater institutional participation.
Concurrently, major deals are reshaping the market infrastructure. For instance, Ripple recently acquired prime broker Hidden Road for $1.25 billion, a significant transaction in the sector. Hidden Road provides services across traditional finance (FX, fixed income) and digital assets. This acquisition involves leveraging Ripple’s RLUSD stablecoin as collateral and migrating post-trade activities to the XRPL, showcasing how stablecoins are becoming integrated into prime brokerage services.
The broader utility of stablecoins in financial transactions was also highlighted by Bitpace’s Chief Revenue Officer, Meryem Habibi, at iFX Expo Dubai 2025. She pointed out the inherent slowness and high costs of traditional cross-border payments. Bitpace uses stablecoins to bypass intermediaries, facilitating faster and cheaper transfers, a model particularly beneficial in high-speed trading environments.
Konstantin Shulga, CEO of Finery Markets, discusses institutional stablecoin trading infrastructure
How the Finery Markets Platform Works
The new platform offers “stablecoin liquidity as a service,” connecting Finery Markets’ network of over 150 clients and institutional liquidity providers. This interconnected network is crucial for ensuring institutions can access sufficient liquidity for their trading needs.
Technical features designed for institutional efficiency include:
- Rapid Onboarding: New asset-stablecoin pairs can be integrated within 24 hours via an API connection.
- Efficient Settlement: Supports real-time, automated cross-chain settlements, streamlining post-trade processes.
- Flexible Trading: Offers multiple execution methods through a single API, including direct order book access, request-for-quote (RFQ) streams, and negotiated trades, allowing institutions to choose the method best suited for their strategy.
Konstantin Shulga, CEO and co-founder of Finery Markets, emphasized the bigger picture, stating, “Full adoption takes more than just regulatory clarity and on/off-ramp payment infrastructure. For stablecoins to become a backbone of global financial plumbing, they must also thrive in liquid secondary markets – something the current infrastructure only partially supports.” This highlights the strategic importance of Finery Markets’ initiative in building out this necessary secondary market infrastructure.
The Outlook for Institutional Stablecoins
Finery Markets’ launch signifies a critical step in building robust, reliable infrastructure required for institutions to comfortably and safely engage with stablecoins. By focusing on mitigating risks like depegging and improving capital efficiency, the platform addresses core concerns holding back wider adoption. The availability of controlled, private liquidity access, coupled with flexible trading and settlement features, caters directly to institutional operational needs.
As the stablecoin market continues to grow and regulatory clarity improves, infrastructure like that provided by Finery Markets will be essential for stablecoins to fulfill their potential as a fundamental component of global financial systems. The emphasis on liquid secondary markets underscores where future development is needed to support truly widespread institutional use. For further insights into the stablecoin market’s trajectory, consider reading Why Stablecoins’ $3.7T Growth Depends More on Market Forces Than Pricing.
