Zerocap expands crypto trading with Integral technology

Zerocap has expanded its crypto and foreign exchange trading operations with technology from Integral, reflecting growing institutional activity in Australia's digital asset market.

The Melbourne-based digital asset firm has integrated Integral Digital into its trading setup as it looks to broaden its institutional service internationally. Zerocap has served institutions and sophisticated investors since 2017 and is regulated in Australia.

The development comes as Australia's digital asset framework moves toward a more formal licensing regime. Market participants are preparing for new standards covering licensing, custody and operations, increasing scrutiny of the systems used for pricing, liquidity and risk.

Institutional investors entering crypto markets increasingly want trading conditions that resemble established foreign exchange markets. That includes consistent pricing across currencies, access to liquidity in both fiat and digital assets, and tools to manage exposure in markets that operate continuously.

Integral's system gives Zerocap a single connection to liquidity providers in digital assets and fiat currencies. It also includes a pricing engine that creates synthetic pairs, allowing cross-currency prices to be generated in real time.

That matters in a market where many investors need to move between fiat currencies and digital assets within a single trading workflow. Access to liquidity for currency conversion has become a practical requirement for firms serving institutions across borders.

Australia's digital asset market has also been growing in volume. Industry data cited by the companies showed monthly on-chain transaction volumes in Australia rose more than fourfold between March 2025 and February 2026.

Market structure

As institutional trading volumes rise, so do operational demands. Firms need systems that connect front-office trading with back-office processes while tracking portfolio exposure, margin and risk in one place.

Zerocap said Integral worked with it to create customised liquidity pools and broad connectivity across venues. The platform was also integrated with other back-office providers, including Elysium, to support operational processes.

Zerocap's trading interface brings together portfolio exposure, margin details and risk analytics in a single view. It also includes automated risk controls designed for institutional workflows, intended to help clients manage exposure in volatile markets.

These functions address a broader issue in digital asset markets: the gap between retail-focused crypto infrastructure and institutional needs. Large investors often require audit trails, automated controls and integrated reporting before committing more capital to a new market.

Institutional demand

Jon de Wet outlined the rationale for the deal in terms of client expectations and market structure.

"As institutional demand for digital assets accelerates, our clients expect the reliability and risk discipline of traditional markets - in venues that never close. Integral Digital gives us unified access to deep digital asset and fiat liquidity, real-time cross-currency pricing and automated risk controls in a single platform, so we can price faster, execute with greater accuracy and keep scaling our institutional franchise without compromising on controls," said Jon de Wet, Chief Investment Officer, Zerocap.

The agreement also points to a wider convergence between foreign exchange technology and digital asset trading. Many of the tools now being applied to crypto markets were first developed for currency trading, where firms have long had to manage fragmented liquidity, round-the-clock pricing and rapid execution.

For providers such as Integral, that overlap creates an opportunity to supply existing market infrastructure to firms entering or expanding in digital assets. It also suggests institutional crypto trading may increasingly rely on the same operating model used in conventional currency markets.

Harpal Sandhu said the Zerocap deal illustrates that trend.

"Zerocap's decision to adopt Integral Digital highlights the growing demand for proven, agile trading technology among institutions exploring the huge opportunity in crypto markets. Built on deep expertise across both traditional and cryptocurrencies, we understand the needs of firms like Zerocap that require access to dynamic, sophisticated trading functionalities in a centralized and user-friendly workflow. We're proud to support Zerocap in enabling their clients to seamlessly access liquidity and manage risk with confidence, helping them make the most of opportunities within digital asset markets," said Harpal Sandhu, Chief Executive Officer, Integral.