DRIVE Markets just announced the launch of their institutional exchange, starting with USD futures for the big five, BTC, BCH, ETH, XRP and LTC. Built on the FIX protocol, DRIVE Markets is targeting funds and brokers seeking the connectivity of conventional forex and capital markets exchanges for digital assets.
Most cryptocurrency exchanges available today are not integrated with the exchange infrastructure of capital and forex markets, precluding their use for comprehensive offerings of digital assets, futures, and fiat currencies. DRIVE Markets enables professional traders to tap into the high-frequency and low-latency trading that they’ve become accustomed to on an intuitive and liquid platform.
DRIVE Markets has partnered with MetaTrader — the enormously popular electronic trading platform — to offer brokerage firms, banks, and funds a familiar feel in the cryptocurrency markets.
DRIVE will offer spot and futures trading for crypto assets BTC, LTC, ETH, BCH, and XRP. Further, the exchange will enable trading in multiple fiat currencies starting with USD and will be adding CAD, EUR, JPY, and GBP. DRIVE Markets is also integrated with several interlocking products, including DRIVE Connect, DRIVE Liquidity, and DRIVE Wallets, appropriating the type of infrastructure that is largely absent from cryptocurrency exchange offerings today.
The convergence of institutional finance and digital assets is ramping up as many platforms, and services are looking to offer more regulated and traditional products side-by-side with crypto assets. Security tokens are building momentum with issuers, service providers, and regulators, while Bitcoin ETFs and other financial vehicles for crypto assets seem poised to open up in 2019.
Futures trading of Bitcoin and other cryptocurrencies is primarily confined to a few cryptocurrency exchanges and traditional brokerage platforms like TD Ameritrade, at the moment. However, DRIVE Markets is leading the way on incorporating various financial tools and trading options with crypto assets and is integrated with the global financial trading infrastructure. Multiple fiat trading pairs for CFD, futures, and spot trading of numerous cryptocurrency assets is a significant step forward for the broader digital asset sector.
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