Cryptocurrencies
Cryptocurrency Exchange Introduces Block Trading for Derivatives
- Deribit and messaging service Paradigm partner in the venture
- Trading effort seeks to move market closer to the mainstream
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A venture between an exchange and a messaging service is introducing block trades to cryptocurrency derivatives, seeking to drive the market closer to the mainstream.
Deribit, an exchange for futures and options on Bitcoin and Ethereum, is partnering with Paradigm, a messaging service for institutional traders, for what it says is the first such offering from a crypto exchange. Contracts can be entered into bilaterally and then settled and cleared at Deribit, which has an insurance fund designed to cover losses from bankrupt traders.