Zerocap integrated Integral Digital to run its institutional crypto and currency trading, the two companies said today (Tuesday). The Melbourne firm gets a single connection to liquidity providers across digital assets and fiat markets, plus a pricing engine that assembles synthetic currency pairs.

Australian digital asset businesses have until 30 September to lodge an application for a financial services license or lose the cover of the regulator’s temporary enforcement pause. Unlicensed providers risk penalties of up to 10% of annual turnover.

Single Connection, Synthetic Crosses

Integral Digital gives Zerocap one point of connectivity to liquidity across digital assets and fiat currency markets, the companies said. Its pricing engine builds synthetic pairs.

Clients “expect the reliability and risk discipline of traditional markets” in venues that never close, said Jon de Wet, chief investment officer at Zerocap.

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Zerocap says the pricing engine lets it quote cross-currency prices in real time, which it wants as digital asset trading spreads into more Asia-Pacific currencies. Integral also built customized liquidity pools for the desk.

The vendor’s branded front end shows portfolio exposure, margin detail and risk analytics in one view, with automated risk controls behind it. Connecting other back-office providers, including Elysium, got easier, according to the announcement.

Australia’s Licensing Clock

The Australian Securities and Investments Commission extended its sector-wide no-action position on 25 June, moving the application deadline to 30 September from 30 June. The extension also covered firms operating under authorized representative arrangements with a license holder.

About 10% of the roughly 400 crypto platforms registered in Australia held an ASIC license as of April. The Corporations Amendment (Digital Assets Framework) Act 2026 commences in April 2027, and regulators across the region have set overlapping crypto deadlines of their own.

Zerocap’s own disclosures place it in that transitional group. It operates as a corporate authorized representative under another firm’s license, AFSL 340799, and is registered with AUSTRAC as a digital currency exchange provider.

Its regulated products, derivatives and managed investment schemes, go to wholesale clients only. On its website the company says its spot crypto-asset services are not regulated by ASIC.

The announcement calls Zerocap regulated in Australia. It does not say whether Zerocap has applied for a license of its own.

The Vendor Behind the Trade

Integral has sold currency technology since 1993 and moved into digital assets in January 2023, when it launched Integral Digital with institutional exchange Mint Exchange. Last September it added PrimeOne, a stablecoin-based crypto prime broker that signed Virtu Financial as an early user.

The currency side kept moving in parallel. Lloyds joined the vendor’s liquidity network in July, and StoneX extended a partnership at the Equinix SG1 site in Singapore in June.

Zerocap has traded digital assets since 2017 and supplied the OTC and custody legs of ANZ’s A$DC stablecoin pilot in 2022, when the bank moved A$30 million (about $22 million at the time) of the token to a private wealth client.

Integral’s Australian Run

Zerocap is the second Australian digital asset client Integral has signed in a month. Vield, which lends against bitcoin collateral, swapped manual hedging for automated execution in July.

Execution and risk infrastructure is “becoming as important as the products they offer,” Integral Chief Executive Harpal Sandhu said in July, announcing the Vield deal.

Vield had approved more than A$50 million of loans to over 1,000 clients at the time, with no defaults. Cardiff-based metals platform Goldwise took the same stack two weeks later, for 24-hour trading in gold and silver.

Rivals reach these clients from other directions. Finery Markets sells a non-custodial crypto ECN to payment firms and OTC desks.

Hong Kong prime broker LTP spent the run-up to the June deadline securing an Australian wholesale license rather than new technology. Its permissions cover institutional clients only, and exclude retail.

This article was written by Damian Chmiel at www.financemagnates.com.Institutional FXRead More

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