Famous new York blockchain startup ConsenSys announced an agreement with TrueDigital, a new division of the platform interest rate swaps trueEx. It is reported that the aim of cooperation is to develop the underlying reference index for the price of Ethereum.
Representatives of the partner companies state that the creation of a “base” price of the cryptocurrency has been a certain price-the benchmark – is the first step towards a further diversification of products to exchange trade with the participation of institutional investors.
It is reported that the decision was taken in the Wake of the growing interest of institutional investors in derivatives based on cryptocurrency assets.
Note, in addition to promising cooperation with ConsenSys, the company trueEx plans to launch its own platform for cryptocurrency derivatives. According to the developers, the first product on this platform will be a contract for bitcoin under the brand TrueDigital. Currently, the tool is already being considered by the Commission on trade commodity futures U.S. (CFTC).
We will remind, in December futures trading on bitcoin was launched at two major venues the Chicago Board exchanges CBOE GME Group first received permission from the CFTC.
In turn, if approved by the regulator, the project trueEx and ConsenSys may lead to the emergence of such exchange-traded products tied to the official price index Ethereum — cryptocurrency, which occupies the second position in terms of market capitalization.
“Institutional investors and commercial partners are ready to work on regulated and liquid market the site, to familiarize with digital currencies and commodities, the value of which continues to grow, and hedging through these instruments. But this area desperately needs the solid Foundation, infrastructure and platforms with which institutional investors are accustomed to work in other important markets,” said founder TrueDigital Hirani, Sunil (Sunil Hirani).
We will remind, recently it became known that the cryptocurrency exchange brothers Winklevoss Gemini intends to expand the offer of digital currencies, planning the listing Litecoin and Bitcoin Cash, which most likely will be the reason for the creation of futures contracts based on these currencies on the exchange CBOE.