THELOGICALINDIAN - Another futures artefact comes to the barter this time it hopes to allure gold bugs
Delta Exchange appear the barrage of XAUT (Tether Gold) Perpetual Contracts, with 20x leveraged trading adjoin Tether USDT.
Tether Gold Contracts, a Safe Haven in Choppy Conditions
Delta’s new trading product will acquiesce traders to barrier adjoin bazaar risk, by purchasing Tether Gold futures affairs with leverage. The futures were launched yesterday.
On the launch, CEO of Delta, Pankaj Balani said:
“The addition of Tether Gold (XAUt), the agenda token, backed by concrete gold assimilate the Delta Exchange belvedere is cogent in aperture a new area of trading that will acquiesce traders admission to concrete gold. These futures affairs will accommodate a agency of ambiguity to aid in the offsetting of risk.”
Access to Gold Without Physical Constraints
XAUT is a agenda asset offered by TG Commodities Limited, giving traders admission to the accumulated allowances of both concrete and agenda assets.
Holders of XAUT are able to exercise buying of gold while alienated the drawbacks associated with concrete gold, such as aerial accumulator costs and bound accessibility.
The XAUt badge can be transferred to any on-chain abode from the purchasers’ Tether wallet afterwards purchase. Each specific gold bar is affiliated with an on-chain abode area the Tether Gold is held. One abounding XAUt badge represents one troy accomplished ounce of gold on a London Good Delivery bar.
With coronavirus fears sparking a sell-off in risk-on assets, gold-backed tokens are accepted to allure appeal from traders seeking safety.
Last month, the barter additionally launched annual futures on the Kyber-Bitcoin trading brace with up to 5x leverage.
Despite the bazaar turmoil, one institutional Bitcoin derivatives barter aloft a abundant round.
Bakkt, Intercontinental Exchange’s Bitcoin derivatives trading platform, has bankrupt a $300 actor Series B costs round.
Investors that alternate in the annular accommodate the Intercontinental Exchange, Microsoft’s M12, PayU, and Pantera Capital, bringing the absolute raised basic to over $482 million.
Derivatives Platform Bakkt Raises $300M
Physically-settled Bitcoin futures trading belvedere Bakkt has aloof completed a Series B costs round, adopting an added $300 actor from a array of investors. Microsoft’s adventure basic accessory M12, the Intercontinental Exchange, PayU, Boston Consulting Group, Goldfinch Partners, CMT Digital, and Pantera Basic accept all alternate in the round, according to the announcement.
The allotment annular represents Bakkt’s attack to aggrandize and ambition a added retail-focused clientele. Bakkt’s CEO Mike Blandina said that admitting the actuality that agenda assets are a $1 abundance market, it’s not attainable to everyone.
“Despite the admeasurement of this market, consumers still acquisition agenda assets to be difficult to access, ambagious to accumulate clue of, and arduous to use,” he explained.
Giving Users Control
Bakkt, as Blandina put it, wants to accord users ascendancy of their agenda assets through its adaptable app. The anew appear app will accredit users to accumulated a advanced array of agenda assets, such as airline miles, adherence points, and in-game assets, into a distinct agenda wallet. Users will additionally be able to use the app to hold, trade, and catechumen their cryptocurrencies to cash.
Blandina said that the acquisition of adherence casework provider Bridge2 Solutions, fueled by the latest allotment round, accustomed Bakkt to ability the adherence accretion programs for 7 of the top 10 banking institutions and over 4,500 adherence and allurement programs including two of the better US airlines.
The app, which is set to barrage during the summer, represents Bakkt’s attack to advantage its own technology and ally in adjustment to actualize a new, consumer-focused product.
