British platform B2C2 launched derivatives for gold with the calculation in bitcoin
Over-the-counter trading platform B2C2, based in the UK, has launched a new product that will allow institutional clients to trade gold without physical delivery.
The platform received permission to work with cryptocurrency derivatives from the UK Financial Conduct Authority (FCA) in February this year. According to representatives of B2C2, the derivative was launched at the request of institutional clients of the platform.
“Customers can trade gold (minimum unit — 1 ounce), and the price is calculated in bitcoins. The advantage is that for a number of operational reasons, it is easier to trade derivatives in gold or bitcoins than a monetary asset, “ said Max Boonen, founder and CEO of B2C2.
At the same time, the UK regulator is considering banning cryptocurrency derivatives. The World Federation of Exchanges (WFE), which includes the Chicago Mercantile Exchange (CME) and the US NASDAQ Exchange, urged the FCA not to ban this type of financial products.