German’s Giant Derivatives Exchange to launch BTC, ETH and XRP futures.

Eurex, a Germany based derivatives exchange is all set to launch cryptocurrency futures contracts tied to Bitcoin, Ethereum and XRP.

Eurex’s parent organization, Deutsche Börse, has allegedly been wanting to present crypto futures since December of 2017 when Bitcoin price was close to its record-breaking high of $20,000.

Addressing German news outlet Wirtschaftswoche, a Deutsche Börse representative stated,

 

“We are thinking about futures, with which private investors and institutional investors can protect existing investments in Bitcoin or set for falling prices of the cyber currency.”

 

Eurex crypto futures is one piece of Deutsche Börse’s endeavors to extend its blockchain-based applications. In Spring of 2018, the exchange declared cooperation with HQLAx, a fintech organization that has some expertise in providing liquidity solution for institutional customers. The organizations are building up a securities loan offering dependent on R3’s business blockchain product, Corda.

Deutsche Börse says the activity is gaining noteworthy ground with six banks affirming they’ll join the stage at dispatch date, which is planned for the starting months of the current year itself.

Eurex was established in 1998. It is the seventh-biggest derivatives exchange around the world, as per information by Statista, and the fifth-biggest exchange by a number of single stock futures contracts exchanged in 2017, as per information by the World Federation of Exchanges.

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