SBI VC Trade Partners with TORICO on Ethereum Trading and Custody
SBI VC Trade’s alliance with TORICO adds OTC, crypto options, and tax exemption services for institutional investors, signaling expanded Ethereum market access.
ETH
Summary
According to its official announcement, SBI VC Trade has partnered with TORICO to provide Ethereum trading, custody, and management via the SBIVC for Prime service. The collaboration includes OTC trading, crypto options, and tax exemption services targeting institutional clients. TORICO currently holds about 1,684 ETH and aims to increase its holdings to 6,000 ETH, employing staking and DeFi strategies to boost yield and liquidity.
Terms & Concepts
- Staking: The process of locking cryptocurrency to support network operations and earn rewards.
- DeFi: Short for Decentralized Finance, it refers to blockchain-based financial services without intermediaries.
- Custody: Secure storage of digital assets, often provided by specialized institutions to protect against theft or loss.