Blockchain venture studio ConsenSys and a new affiliate of marketplace trueEX - TrueDigital, have announced a partnership between each other. The goal is be able to offer more crypto trading products to institutional investors as their interest in digital currency related derivative products is on the rise.
Institutional investors and commercial partners are ready for a regulated and liquid marketplace to gain exposure to and hedge these increasingly important digital currencies and commodities. But the marketplace is sorely lacking the necessary foundation, infrastructure and platforms that institutional investors have come to expect in other important markets.
The initial step is to invent an anchor index for the market as a whole for the price of ETH. Alongside this partnership, trueEX s going to launch a special marketplace for digital assets as another step to convince institutional investors of confidence and transparency. First contracts are planned to be Bitcoin non-deliverable forwards (NDFs), settled in USD. TrueDigital, in turn, will handle the product development and manage sales and marketing for these new products.
NDFs on digital assets are the logical next step for institutional investors who are seeking exposure to Bitcoin and other digital currencies. Sunil is a proven innovator in financial products and market infrastructure, and one of the earliest advocates for the use of digital assets in institutional finance. We're looking forward to working with his team at trueDIGITAL.
Vice President of Risk, ED&F Man Capital Markets