STS Digital
STS Digital is a Bermuda-regulated principal trading firm offering institutional options market making, OTC trading, and structured products across 400+ digital asset tokens, serving banks, asset managers, family offices, token issuers, and exchanges globally.
- Company typePrivate
- Founded2022
- HeadquartersHamilton, Bermuda
- Headcount11–50
- GTM typeB2B
- OfferingServices
What STS Digital does
STS Digital is a Bermuda-regulated principal derivatives trading firm specializing in digital asset options, OTC spot trading, structured products, and market making. Founded in 2022 and headquartered in Hamilton, Bermuda (with operational presence in Zug, Switzerland and Singapore), the firm operates as a principal counterparty — earning bid-ask spreads and risk-warehousing fees rather than agency commissions — across more than 400 digital asset tokens and 30+ centralized and decentralized venues. Its core technology platform supports multi-channel execution via UI, REST/FIX API, and voice with sub-second eRFQ response times, and integrates with leading institutional custodians (Fireblocks, Fordefi, BitGo, Copper) and the BitGo Go Network for off-exchange settlement. The firm has completed the Bermuda Monetary Authority's full T-M-F licensing pathway, holds a Full 'F' Licence under the Digital Asset Business Act 2018, and is recognized for institutional-grade derivatives infrastructure through the 2026 TradingTech Insight Awards USA and WealthBriefingAsia Awards.
STS Digital firmographics
Firmographics- Name
- STS Digital
- Legal name
- STS Digital Ltd.
- Website
- https://stsdigital.io
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- STS Digital is a Bermuda-regulated principal trading firm offering institutional options market making, OTC trading, and structured products across 400+ digital asset tokens, serving banks, asset managers, family offices, token issuers, and exchanges globally.
- Ownership category
- akta.pro rank
STS Digital industry classification
Industry- Product category
- Digital Asset Derivatives and Market Making
- NAICS
- Securities and Commodity Contracts Intermediation and Brokerage (5231), Commodity Contracts Intermediation (523160), Commodity Contracts Intermediation (52316), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)
- akta.pro primary industry
- Institutional Multi-Asset Trading Platforms (OTC/RFQ) (FSAFAEAB)
- akta.pro secondary industries
- OTC Spot Trading & Block Execution (FSADAJAB), Institutional Spot Exchanges & Broker-Dealers (FSADAAAC)
Keywords
Where STS Digital is headquartered
LocationHeadquarters
- HQ city
- Hamilton
- HQ country
- Bermuda
Offices3 records
Markets served
STS Digital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales
Revenue model
- Options Trading (Principal): Acting as principal in digital asset options markets, earning bid-ask spreads and risk warehousing fees from institutional clients trading vanilla and exotic options across 400+ tokens.
- Structured Products: Packaged investment solutions providing yield enhancement, capital protection, and leverage strategies. Principal dealer pricing and structuring fees, including bespoke structures for institutional allocators.
- Market Making Services: Providing two-sided liquidity to token issuers, exchanges, and financial institutions. Earns bid-ask spreads and market-making fees across 30+ venues for token projects and platforms.
- Spot Trading: Advanced execution algorithms and direct access trading for hedging, rebalancing, and funding option positions across digital asset spot markets.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Institutional OTC Trading |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels4 records
STS Digital product offering
Product offeringCore offering
STS Digital operates as a Bermuda-regulated principal derivatives trading firm and options market maker, providing institutional clients with OTC spot and options trading, cross-venue market making, and structured products across 400+ digital asset tokens. The firm executes as principal on UI, API, and voice channels with sub-second eRFQ responses, offering vanilla and exotic options, Reverse Convertibles, Shark Notes, and accumulator/decumulator structures under a BMA Full 'F' Licence.
Product overview
STS Digital operates as a unified institutional platform combining three core product areas: Trading Platform (OTC spot and options trading via UI, API, and voice), Market Making (liquidity provision across 30+ venues), and Structured Products (bespoke packaged investments). The platform serves 400+ tokens across vanilla and exotic options, spot markets, and structured products through a single interface. Core differentiators include sub-second eRFQ response times, 24/7/365 trading availability, Bermuda Monetary Authority regulation (Full F Licence), and institutional-grade risk management. The company expanded in March 2026 with its first-to-market Global Structured Products Platform, partnering with Kraken for distribution via their Dual Investment product.
Differentiator
Problem solved
Functional benefit
Products and services
- Trading Platform Institutional OTC trading platform providing principal liquidity across spot, vanilla options, and exotic options for 400+ tokens, accessible via UI, REST/FIX API, and voice channels. Features sub-second RFQ response times, single or multi-leg exotic option packages, cash or physically settled contracts, and bespoke strikes and maturities for institutional clients.
- Market Making Two-sided liquidity provision active on 30+ centralized and decentralized venues for token issuers, exchanges/platforms, and financial institutions/banks. Delivers tight spreads, deep liquidity, cross-venue synchronized pricing, quote stability, and 24/7/365 coverage.
- Structured Products Packaged investment solutions delivering asymmetrical returns via yield enhancement (Reverse Convertibles), capital protection (Shark Notes), leverage and accumulation (Accumulators/Decumulators), and custom payout profiles. Offers 100+ token underlyings, 15 off-the-shelf structures, and 5 systematic strategies, plus bespoke structuring expertise for institutional allocators under the Bermuda DABA regulatory framework.
Quantifiable outcome
- Over $6 billion in trading volume executed on the platform
- +4 more outcomes
Companies that use STS Digital
Customer profileNamed customers4 records
Segments5 records
Ideal customer profiles5 records
STS Digital technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature6 records
STS Digital partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and flagship.
- BitGocoreSTS Digital became the first principal derivatives dealer integrated as exchange partner on BitGo's Go Network for Off-Exchange Settlement. Institutional clients can now trade derivatives with STS Digital while assets remain securely in BitGo custody without prefunding or transfers, eliminating counterparty risk while preserving full market access.
- HarukocoreStrategic integration with Haruko provides STS Digital users real-time insights into trading activity, positions, and market exposure. Haruko consolidates data across STS Digital and other venues, providing unified views of digital asset portfolios alongside advanced pricing, risk analytics, and performance reporting.
- KrakenflagshipStrategic partnership with Kraken as first distribution partner for STS Digital's structured products platform. Kraken integrated the platform via API to power its Dual Investment product, offering fixed returns on Bitcoin and Ether to eligible clients. The platform enables Kraken to offer Wall Street-style yield strategies and structured derivative products to its user base, expanding institutional access to options-based crypto strategies.
Scale indicators10 records
Recent moves9 records
Expansion highlights3 records
STS Digital competitors and assessment
Company assessmentDirect peers
- Wintermute: Wintermute is one of the largest crypto-native OTC and algorithmic market makers, providing liquidity across spot and derivatives. Directly comparable to STS Digital as both operate principal liquidity provision across digital assets with institutional focus.
- GSR Markets: GSR is a crypto-native market maker and options liquidity provider offering OTC, options, and structured products. Directly competes with STS Digital in the institutional crypto options and structured products space.
- Cumberland (DRW): Cumberland is the institutional crypto trading arm of DRW, providing OTC liquidity and derivatives across digital assets. Direct competitor in institutional crypto OTC and options trading serving similar client segments.
- B2C2: B2C2 is a leading institutional crypto OTC liquidity provider and market maker, serving hedge funds, asset managers, and banks. Directly comparable as a principal liquidity provider with institutional focus on derivatives and large block execution.
- Amber Group: Amber Group is a global crypto finance provider offering market making, OTC trading, and structured products. Directly competes with STS Digital across institutional options, market making, and structured yield strategies.
Broad incumbents
- Galaxy Digital: Galaxy Digital operates institutional crypto trading, market making, and asset management at scale. While broader than STS Digital's core offering, it directly competes in institutional crypto options and OTC trading.
- Flow Traders: Flow Traders is a leading global ETF and ETP market maker that has expanded into crypto derivatives liquidity. Comparable as an institutional principal liquidity provider with sophisticated derivatives expertise.
Emerging players
- FalconX: FalconX is a digital asset prime brokerage offering institutional trading, credit, and custody. Overlaps with STS Digital on OTC institutional execution and derivatives access, with broader prime brokerage ambitions.
- Auros: Auros is a crypto-native algorithmic trading and market making firm with growing institutional presence. Comparable to STS Digital as a digital asset market maker and liquidity provider across multiple venues.
- Keyrock: Keyrock is a crypto market maker and liquidity provider operating across centralized and decentralized venues. Directly comparable to STS Digital's market making and OTC liquidity provision business across digital assets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
STS Digital social profiles
Digital presenceSTS Digital compliance and trust
Trust signalCompliance2 records
STS Digital financial estimates
Financial estimateRevenue estimate
Valuation estimate
STS Digital leadership team
Management profileNumber of profiles
Profiles8 records
STS Digital subsidiaries and ownership
Company hierarchySubsidiaries1 record
STS Digital funding detail
Funding detailFunding overview
Funding rounds1 record
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
STS Digital M&A and investment
M&A and investmentM&A1 record
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about STS Digital
What does STS Digital do?
STS Digital operates as a Bermuda-regulated principal derivatives trading firm and options market maker, providing institutional clients with OTC spot and options trading, cross-venue market making, and structured products across 400+ digital asset tokens. The firm executes as principal on UI, API, and voice channels with sub-second eRFQ responses, offering vanilla and exotic options, Reverse Convertibles, Shark Notes, and accumulator/decumulator structures under a BMA Full 'F' Licence.
Is STS Digital a public or private company?
STS Digital is a private company. It is classified as venture growth investor backed and is currently operating.
When was STS Digital founded?
STS Digital was founded in 2022. It employs 11 to 50 people.
Where is STS Digital based?
STS Digital is headquartered in Hamilton, Bermuda.
How does STS Digital make money?
Four revenue lines are on record. Options Trading (Principal) is the primary driver. The others are structured Products, market Making Services and spot Trading.
Who are STS Digital's main competitors?
Direct peers on record are Wintermute, GSR Markets, Cumberland (DRW), B2C2 and Amber Group. Broad incumbents are Galaxy Digital and Flow Traders. Emerging players are FalconX, Auros and Keyrock.
Does STS Digital have an API?
Yes. STS Digital offers REST and FIX APIs for institutional access, enabling programmatic trading, real-time quoting, and position management. The platform also supports eRFQ (electronic Request for Quote) functionality with sub-second response times across its trading infrastructure. API access is designed for professional clients and financial institutions requiring automated trading capabilities.
What industry is STS Digital in?
STS Digital's product category is Digital Asset Derivatives and Market Making. Its primary akta.pro industry code is FSAFAEAB, Institutional Multi-Asset Trading Platforms (OTC/RFQ), with a secondary code of FSADAJAB, OTC Spot Trading & Block Execution. Its NAICS code is 5231 and its SIC code is 6200.