TrueEX to Launch trueDigital Derivatives Marketplace for Digital Assets, Partners with ConsenSys

Cryptocurrency Derivatives Exchange Approved By CFTC As Designated Contract Market For Swaps

Cryptocurrency Derivatives Exchange Approved By CFTC As Designated Contract Market For Swaps

No date has been set for the start of the regulated derivatives marketplace for digital assets, but the initial contracts will be for bitcoin non-deliverable forwards (NDFs) settled in United States dollars and will be listed under the "trueDigital" brand on the existingtrueEX swap execution platform, pending review with the Commodity Futures Trading Commission.

"NDFs on digital assets are the logical next step for institutional investors who are seeking exposure to Bitcoin and other digital currencies".

The partnership news comes alongside trueEx's announcement that the company is planning to launch a derivatives marketplace for cryptocurrency assets.

The first product is expected to be a bitcoin contract on trueEx's swap trading platform, but marketed under the TrueDigital brand, the firm said. At the moment, it is waiting for approval from the US Commodity Futures Trading Commission. As an exchange and registered swap execution facility (SEF), trueEX has executed over $9.7 trillion in trading volumes and $20.7 trillion in post-trade processing services since its launch.

"But the marketplace is sorely lacking the necessary foundation, infrastructure and platforms that institutional investors have come to expect in other important markets."
"We're looking forward to working with his team at trueDIGITAL".

trueEX points to the fact that digital assets, including Bitcoin and Ether, now comprise in excess of $430 billion in market capitalization. While attracting greater institutional interest, the marketplace has been lacking the regulatory and technology building blocks needed for institutional involvement and participation.

trueEX enables the trading of interest rate swaps, a complex financial tool that can be used by institutional investors to simplify exchanges of digital assets. The platform has also been featured on the Forbes Fintech 50 and Institutional Investor Tech 50 rankings as one of the most innovative fintech companies.

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