Loans and margin trading inside a crypto account

The client runs a regulated crypto account for retail customers. It wanted to be more than a wallet: a place where holdings could earn, be borrowed against and be traded.

Investment products in a crypto account answer to the asset's rules, the regulator's and the trading venue's, all at once. Each product needed its own risk model, liquidity and disclosures. Underneath them, someone had to own the asset lifecycle: what gets listed, how it is priced, when it is delisted.

We shipped three products into the same account. Crypto-backed loans came first: stablecoins against crypto collateral at a high loan-to-value, with no origination fee and interest only while the line is open. Short-term dual-asset yield products followed, with payout in whichever currency of the pair the market chose. Then leveraged trading, built as a chain of loans with automated margin and take-profit. We owned all three: the sequencing, how risk and liquidity were modelled, and what compliance required before each launch.

We also took on the asset lifecycle end to end, from listing and pricing through trading strategy and liquidity to delisting. That put the venues and liquidity behind the products under our management rather than leaving them as an outside dependency.

The products now run inside the account on an asset lifecycle the client owns.