Ethereum seeks institutional trade in the US

ConsenSys, a New York-based application based on Blockchain, today announced its partnership with TrueDigital, the new partner in the online exchange market for TrueEx interest rates. According to the announcement, both firms are planning to develop a target index for the price of Ethereum, the second largest global crypto currency.

The news about the partnership was part of the announcement that TrueEx company plans to launch the derivatives market for crypto-currency assets.

"It is assumed that the first product will be Bitcoin-contract on the TrueEx trading platform, but it will be sold under the TrueDigital brand", – the firm declared. The contract is currently awaiting approval by the Commodity Futures Trading Commission (CFTC).

As the CoinDesk, The CFTC has already authorized the trade in Bitcoin futures offered by the CME Group and the Chicago Board Options Exchange (CBOE).

The introduction of Ethereum into institutional trade

Although, at present, the plan is in its infancy, if it is approved, it can provoke the creation of exchange products for Ethereum with an official reference to the official price index.

"Institutional investors and commercial partners are ready for a regulated and liquid market in order to gain access to digital currencies, "Said Sunil Hirani, founder of TrueDigital. He continued:

"But the market lacks the necessary infrastructure and platforms that institutional investors use in other markets."

Author: Olga Novikova, Analyst Freedman Club Crypto News
Image from Fotolia

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