Eqonex formerly said it was taken part in conversations on the potential merger or takeover options in late 2021.
The Nasdaq-listed digital assets monetary services company Eqonex has actually launched a new type of Bitcoin (BTC) investment product, a BTC outdated futures contract with a physical negotiation.
Revealing the information on Wednesday, Eqonex clarified that its BTC outdated futures are denominated in the USD Coin (USDC) stablecoin and also boost in parallel with the BTC price rise versus USDC.
Unlike continuous futures, which have no maturation limitation, dated futures end at a pre-set date as well as period like each month or each quarter, Eqonex kept in mind. “Any type of placement in a continuous future stays open up until the trader decides to close the trade by performing a countering profession, or up until the profession obtains sold off by Eqonex,” the company added.
According to the news, the Eqonex BTC dated futures agreement ends at 08:00 am UTC on the final Friday of the expiration month, with physical settlement happening automatically on the expiry date. Individuals can trade the new BTC futures contract with utilize.
Eqonex also anticipates to introduce outdated futures for extra cryptocurrencies including Ether (ETH) “in the coming months.”
Eqonex’s acting CEO Andrew Eldon mentioned that there is still a “gap in the exchange marketplace to much better offer investors who are searching for risk-free accessibility to items as well as techniques from typical money to make use of and also hedge against the volatility of crypto market trading.”
“We are getting rid of the obstacles to entrance by supplying a controlled crypto exchange, and also by adding institutional-grade items to our clients’ toolkits,” Eldon stated.
The news comes not long after Eqonex announced that it was taken part in tactical discussions with third parties including the examination of merger or takeover options in December 2021. The news came in conjunction with the firm selecting Eldon as acting chief executive officer, replacing previous chief executive officer Richard Byworth.