Through its subsidiary SCH SA, London Stock Exchange Group will provide clearing services on the GFO-X Bitcoin index. Thus, BTC is establishing itself a little more in traditional finance.
London Stock Exchange Group interested in Bitcoin (BTC)
LCH SA, a subsidiary of London Stock Exchange Group, will provide clearing services on the Bitcoin index of the British company GFO-X.
GFO-X is, according to its CEO Arnab Sen, the first regulated centralized platform in the United Kingdom allowing the trading of derivatives on crypto-assets.
The index in question is Coin Metrics Bitcoin (GCBRR) and this new service operated by LCH DigitalAssetClear will focus on futures and options.
However, this new partnership has yet to receive regulatory approval to be realized. If so, this service should be rolled out in the fourth quarter of this year.
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The rising interest of traditional finance
Frank Soussan, head of LCH DigitalAssetClear, returned to the growing demand from institutional players for cryptocurrency derivatives :
“Bitcoin index futures and options are a rapidly growing asset class, with growing interest among institutional market participants seeking access in a regulated environment they know. »
Bitcoin is picking up again at the start of the year, after crossing the symbolic threshold of 30,000 dollars again this week. While he trading at $30,700 as of this writingthe interest of institutional players seems to follow suit.
Thus, through this partnership, LCH and GFO-X will be able to provide traditional finance investors with more tools to trade Bitcoin.
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Source: LCH SA
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