Two massive crypto names come together to launch the latest institutional derivatives product
|The race to be the go-to institutional investor platform of choice has stepped up a notch as Deribit and Paradign join forces to launch a multi-instrument block trading solution for crypto derivatives.
The new system will allow clients to use the Paradigm chat for direct transactions with counterparties at their discretion. After agreeing on a transaction, trade data will be submitted for the Deribit execution and clearing automatiсly. Talking about the new service, XBTO Group’s CEO Philippe Bekhazi said
“When excellent companies operating in a similar space work together by leveraging relationships and sharing ideas, everyone wins – including, most importantly, the end-user.”
Deribit’s CEO, John Jansen, also commented saying the new service will offer block trades with a minimum of 40 Bitcoin and 800 Ether or approximately $400,000 and $150,000 for options contracts linked to those cryptocurrencies.
This is the latest positive news for the institutional crypto space after Bakkt announced the launch of their new platform.
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