Cactus Custody partners with Fly Wing to launch OTC Desk, advancing its mission to provide diversified services for institutions
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Cactus Custody partners with Fly Wing to launch OTC Desk, advancing its mission to provide diversified services for institutions
This collaboration will provide institutional clients with secure, compliant, and transparent fiat settlement solutions, further strengthening Cactus Custody's mission to build an all-in-one digital asset service platform.
Navigating Web3 tides with focused insightsCactus Custody, a compliant digital asset custodian under Matrixport holding Hong Kong's TCSP license, today announced a strategic partnership with Fly Wing Technologies Pte Ltd ("Fly Wing") to launch its over-the-counter trading service platform, Cactus OTC Desk, for institutional clients. Fly Wing holds a Major Payment Institution license granted by the Monetary Authority of Singapore (MAS), enabling it to provide digital payment token services for OTC transactions. This collaboration will deliver secure, compliant, and transparent fiat settlement solutions for institutional clients, further advancing Cactus Custody’s mission to build an integrated digital asset service platform.
Recently, Cactus Custody integrated with Singapore Gulf Bank (SGB) system, enabling regulated fiat custody services for institutional users with 24/7 instant access for deposits and withdrawals. The launch of the OTC Desk expands digital asset/fiat conversion options for institutional clients, marking another step forward in bridging traditional finance and the Web3 ecosystem.
Cactus Custody users must complete electronic Know-Your-Customer (eKYC) verification via the Fly Wing platform to access this new service. Unlike cryptocurrency exchange models, Fly Wing facilitates OTC trades through bank transfers, ensuring high levels of security, compliance, and transparency. At launch, the Cactus OTC Desk supports USDT/USD and USDC/USD trading pairs, with additional pairs to be added progressively.
Improving asset utilization efficiency remains a key factor for institutions entering the Web3 market. True to its founding principles, Cactus Custody employs industry-leading hardware security modules, cold storage, and geographically isolated custody strategies to provide the highest level of protection for user assets. Meanwhile, through partnerships with regulated institutions, the platform actively integrates fiat settlement capabilities to optimize asset efficiency and strengthen institutional trust.
Wendy Jiang, General Manager of Cactus Custody, said: "Security has always been our top priority at Cactus Custody. We are committed to building industry-leading security infrastructure and enabling seamless participation in the Web3 market for institutional clients, allowing them to seize market opportunities promptly—all while ensuring the safety of their assets. This partnership embodies that principle. Fly Wing’s strong commitment to security, compliance, and transparency will further enhance institutional confidence and encourage more traditional players to enter the Web3 space."
Fly Wing is the first OTC provider integrated into the Cactus OTC Desk. Going forward, the platform plans to integrate additional regulated OTC providers, offering clients greater choice and meeting their personalized needs.
About Cactus Custody
Cactus Custody is a professional digital asset custody platform under the Matrixport Group with international regulatory credentials. It provides custody, DeFi access, OTC settlement, and OTC trading services to over 300 institutional clients globally, managing over ten billion dollars in assets.
With security as its core, compliance as its foundation, and innovation as its driver, the platform adopts a cold-hot layered security architecture, integrating enterprise-grade hardware security modules and cold storage systems, while strictly enforcing compliance risk controls. It is dedicated to building a globally trusted digital asset custody infrastructure.
Learn more: www.mycactus.com
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