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.
Author
Rajan Dhall, MSTA
FX Daily
Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.
