The Japanese financial services giant SBI Holdings has recently invested $9 million USD in the digital marketplace architects Clear Markets – funding the creation of a new institutional-grade cryptocurrency derivatives trading platform.
Designed for institutional investors, the new platform is funded with a 12% stake from SBI Crypto Investment, which is a company that is headquartered in Charlotte, North Carolina but has branch offices in New York, London and Tokyo.
As Nikkei Asian Review reported, the terms of the deal were not disclosed but SBI likely paid 1 billion yen (which is around $9 million USD) for the ownership position in the company.
With this, SBI aims to build a derivatives exchange that will allow institutional investors to trade investment products that are tied to the price movements of Bitcoin as well as other cryptocurrencies. These may include futures, options, and swaps and will certainly allow institutions to hedge other positions that they have in the crypto market as well as reduce risk while locking in greater profits (or mitigating losses).
Right now, the US is home to two regulated exchanges, CBOE and CME which are both based in Chicago and offering Bitcoin futures contracts.
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