TrueEX wants to create crypto-related derivative products via its division called TrueDigital. The company is now focusing on derivatives related to Ether and Bitcoin.
TrueDigital, a subsidiary of credit-default swaps firm TrueEX, plans to launch new derivative products based on Ether and Bitcoin. In light of this, the startup made some important steps. First, it announced the partnership with blockchain firm ConsenSys to build a reference rate for Ethereum’s token. Secondly, TrueDigital said it has filed with the US Commodity Futures Trading Commission (CFTC) for approval of its non-deliverable forwards (NDFs) on BTC.
TrueDigital and ConsenSys announced on Monday that they would come with a reference rate for Ether, which is indispensable for the upcoming Ether-based derivative products. ConsenSys will help the exchange create the needed infrastructure for broader adoption of cryptocurrency trading products aimed at institutional investors.