Integral Launches first Stablecoin-Based Crypto Prime Brokerage
Integral, a provider of cloud-based foreign exchange and digital asset technology, has launched what it claims is the first stablecoin-based crypto prime brokerage. The service aims to deliver institutional-grade credit, trading, and net settlement within a single, integrated platform.
Currently, in foreign exchange, Integral offers front office capabilities, while prime brokers provide credit and clearing, and CLS handles netting and settlement.Though, according to Harpal Sandhu, chief executive of Integral, this integrated ecosystem is lacking in the crypto market.
To address this gap, Integral launched PrimeOne in beta six months ago. Built on the CoDEX blockchain – described as Ethereum compatible, high performance, high volume, and low cost – PrimeOne seeks to streamline the fragmented crypto landscape.
“PrimeOne is to conventional prime brokers as Uber is to traditional taxis,” Sandhu stated. “It is a platform which connects all market participants with each other and is cheaper, faster and easier to use.”
The importance of prime brokerage in resolving market fragmentation was a key topic at the Digital Asset Summit 2025 in London.A panel moderated by Melvin Deng, chief executive of QCP, a Singapore-based digital asset derivatives market maker, highlighted the issue.
QCP noted in a blog post that the recent market crash demonstrated how assets can become “physically stranded on multiple exchanges,” leading to liquidity issues. They emphasized that “effective prime brokerage, built on robust balance sheets and modern tech, is the key to unlocking this trapped capital and ensuring liquidity during stress.”
Sandhu explained that PrimeOne utilizes onchain infrastructure and stablecoins to offer credit without requiring a traditional balance sheet. unlike traditional finance’s “T+1 day” margin delivery, PrimeOne leverages stablecoins for variation margin, enabling 24/7 delivery.## crypto’s Next Phase: Utility Drives Growth Beyond Price Speculation
The crypto industry is poised for a significant shift,moving beyond price-driven speculation towards genuine utility and widespread adoption,according to industry experts. This evolution will be characterized by the increasing integration of crypto assets into traditional financial systems and the emergence of robust use cases.
JM Mognetti, of coinshares, emphasizes that lasting change in the financial system isn’t triggered by price movements alone.”A financial system does not change because prices move,” he stated. “It changes because products become useful at scale.” He anticipates that by 2026, payment companies, fintechs, and banks will be actively expanding their services to include stablecoin settlement, custody, and trading. “These developments might potentially be gradual, but they are structural. Once embedded, they do not reverse easily.”
Alana Levin, investment partner at Variant Fund, outlined in a recent report that the industry has entered its third phase of growth: utilization. Levin describes crypto assets as uniquely “composable, accessible, and programmable” financial tools, highlighting the growing number of practical applications, such as stablecoin payments and liquidity provision for onchain exchanges.
Source: Variant Fund
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