TrueEX announced that it will release a regulated derivatives marketplace for digital assets and a partnership between their subsidiary True Digital Holding (TDH) and Blockchain company ConsenSys to bring the confidence and the transparency big institutional investors have been waiting for.
In a press release published today (March 12), TrueEx stated that the Bitcoin contract settled in USD is goint to be listed as “trueDigital” on the actual trueEX swap platform.
The partnership between the two companies wants to make Ethereum more accessible to institutional investors by developing a benchmark rate for Ethereum.
Sunil Hirani, founder of TDH mentioned that the cryptocurrency market has a lack of institutional investors and their project intends to solve this problem,
“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 Vice President of Risk at ED&F Man Capital Markets, Brooks Dudley said,
“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.”
According to the press release, the association between TrueEx and ConsenSys will create “the infrastructure needed for the broad adoption of digital assets by the institutional community.”