South Street Securities is partnering with Digital Prime Technologies, an innovative provider of turnkey, prime brokerage solutions for financial institutions. Financial details are not available.
Digital Prime’s platform for digital assets provides traditional securities-based prime brokers a technology solution to offer their clients the ability to execute, leverage, and finance digital asset trading strategies in one platform. This will allow South Street to expand into the digital asset trading and lending space efficiently with institutional clients.
James Tabacchi, president and CEO of South Street, said in a statement: “South Street operates multiple complementary businesses in the fixed income, mortgage, equity, asset management, and banking sectors. A partnership with Digital Prime expands our FinTech footprint and provides growth opportunities for our finance and trading businesses in a new asset class. This will add further diversification to our portfolio of complementary businesses.”
James Runnels, founder of Digital Prime, said in a statement that the investment funds will be used to expand the fintech’s platform and “further accelerate our customized product delivery”.