Plans to support bitcoin by the main US stock exchange and the world's largest turnover have become known shortly after the release of information about the upcoming launch of the department for trading crypto-currencies on the basis of the investment bank Goldman Sachs. This is written by The New York Times.
What distinguishes the ICE tool being developed from the existing CBOE and CME bitcoin futures is the opportunity for investors to directly purchase cryptocurrency. Calculations for Bitcoin futures are conducted in Fiat. ICE will offer the banks contracts known as swaps that will allow the client to receive the acquired crypto currency the next day, while taking advantage of the guarantees of the exchange itself, the source explained.
The swap is a more complicated scheme for buying crypto currency than direct exchange of dollars for bitcoins, but this step will allow investors in traditional markets to gain access to the digital asset itself, rather than its equivalent, and the exchange to not violate the requirements of the Commodity Futures Trading Commission.
Details of the upcoming launch have not yet been approved, and it may not take place, given the ambiguous attitude to the crypto-currency on Wall Street.