Argentina's largest futures market has announced plans to provide Bitcoin services to investors. Mercado de Termino de Rosario (Rofex) in Latin America is focused on providing cryptocurrency futures as part of its offerings, according to a Bloomberg report today.
Rofex has tentatively laid out its plans to provide digital asset custody services and use Bitcoin as collateral in futures trading for its clients. Rofex chief Diego Fernandez said in an interview that the possible proposal was “in a state of development” and that the firm planned to make an announcement “before the end of the year.”
Notably, Fernandez also pointed out that for major and largest financial institutions, cryptocurrencies are increasingly being seen as another avenue for business expansion. When asked “why would Rofex provide such a service,” he replied “because it is our core business,” however, he added that the company would still need to seek regulatory approval before launching any Bitcoin-related service. Hot on the heels of this news is US-based futures firm CME Group, which also announced this week that it plans to launch Bitcoin futures contracts by the end of this year. This move is also pending regulatory approval.
According to https://www.coindesk.com
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