StoneX Enters the Crypto Space with BTC Swap
Posted by Colin Lambert. Last updated: May 20, 2022
StoneX Markets says it has executed and settled its first cash-settled BTC/USD swap in a trade with London-based client Liquidity Solutions Global.
The firm started offering cash-settled crypto swaps earlier in May alongside its FX products.
“As with any other asset class, investors need to connect to digital assets markets through a trusted partner who can secure best execution and meet their compliance and custody needs,” says Eric Donovan, global head of institutional FX at StoneX. “Cash-settled swaps allow our clients to access the market movement of underlying digital assets without taking physical custody. As a result, many regulated institutions are looking to the swaps market as a cost-effective way to gain access to crypto price exposure without the regulatory burden, cost, and additional risks traditionally associated with spot crypto ownership.”