Bitstamp will launch a new Bitcoin leverage trading platform along with Silvergate, which will be of huge help for the institutions since it will allow the institutional investors to trade with leverage collateralized by Bitcoin so let’s find out more about it in the latest bitcoin news.
The platform recently announced its partnership with Silvergate’s Bank’s new product- the SEN leverage so the investors now have the option to obtain USD loans that are collateralized by bitcoins held on the exchange. Initially, the new platform will only be open to a few institutional customers of the bank and will be powered by Silvergate Exchange Network and both companies have already started the testing phase. According to the head of business development of Bitstamp, Miha Grcar said that the SEN leverage provides one very important feature that will help all the customers:
“Silvergate’s real-time 24/7/365 ability to both fund loans and to accept repayments over the SEN, thus enabling Silvergate’s customers to more flexibly manage their bitcoin positions.”
The CEO of Silvergate Alan Lane explained:
“Our digital currency customers have asked us to help them create greater capital efficiency, and we are excited to be working closely with Bitstamp to solve this problem for them. The integration and work that our collective teams have put into this over the past six months is a testament to the conviction we have to serve our customers.”
The interest from the institutional investors for Bitcoin and the entire crypto market seems to be on the rise in the past few months and different companies provide an extensive set of investment options such as the cash-settled Bitcoin futures, other Bitcoin futures options, and physically-delivered options as well. Bakkt for example, launched a few products last year in regard to this matter and it is considered as another significant step towards the mass adoption because of its regulated warehousing.
Also, the Chicago Mercantile Exchange added more products to its portfolio and CME now offers options on Bitcoin futures and has already gathered significant trading volumes. The SEN leverage is a different kind of product but it still appears as a step in the right direction for attracting more institutional investors. Bitstamp will launch the new platform with the hope to attract even more institutional investors and mainstream adoption.
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