The institutional acceptance of cryptocurrencies around the world has recently accelerated significantly, developing them hand in hand with well-defined regulations. Here, Block Phillies CEO Nick Hammer explains the rise in Crypto’s institutional use and some of the reasons for its latest product to meet its demand.
What trends do you see in the digital assets sector now?
There has been an increase in involvement from institutional players in this sector, including hedge funds, family offices and asset managers, highlighting the increasing reliability and maturity of the digital asset space. Institutional activities bring greater capital, greater liquidity and stability to this market. It also promotes mainstream acceptance and clarity of required regulations.
To that end, governments and regulators around the world have developed a clearer framework and focused on protecting investors. This helps build trust and ensures compliance in various jurisdictions. This will also help you navigate the global regulatory environment and launch offices in South America and the Middle East. BlockFills also has Basing Capital Markets UK Ltd, a London-based affiliate. This is regulated by the Financial Conduct Authority (FCA). The move towards certainty in regulations has been beneficial to key players in this sector.
Defi continues to grow and offers decentralized alternatives to traditional financial products such as lending, borrowing and trading. This allows for greater financial inclusion, efficiency and transparency. Many central banks are also exploring or developing their own digital currencies in response to the rise of cryptocurrencies and stupid currencies. This could impact the future of money by creating a more digitalized financial ecosystem.
Finally, there is an increase in the use of Stablecoins. Stripe has introduced a new payment option that allows customers to pay US businesses with USDC Stablecoin. This growth trend is reshaping the way assets are trading and storing.
Why did we see more institutional adoption of cryptography?
There have been many moves from regulators to give institutional traders more confidence when accessing the digital asset space. The US has adopted strategic Bitcoin reserve policies at both federal and several state levels, with the SEC and CFTC creating a joint cryptographic regulatory advisory board, with several cryptographic ETFs approved and are considering applying for Bitwise’s XRP ETFs.
We have also seen the development of institutional custody solutions for Crypto that build further trust in the digital asset space. BlockFills partners with leading players who have invested heavily in custody solutions, insurance and regulatory compliance. These are just a few of the steps we take to protect our assets against hacking and theft, as long-term sustainability is important to us.
Finally, there was a real trend to tokenize traditional financial products such as stocks, bonds and commodities. Institutional and professional investors are attracted to this type of offering due to their partial ownership and increased liquidity. This offers a unique opportunity apart from traditional investment vehicles.
How do you view product opportunities and deficit landscapes as the market matures?
By offering both spots and derivatives*, Blockfill offers unique trading opportunities and offers traders the opportunity to explore a variety of strategies. As OTC desks, there are customizable products with a robust kind of underlying digital assets, such as BTC, ETH, SOL, XRP, USDT, LTC, BCH, and more. We are not just dealing with major coins.
Legacy products and technologies have a curb that is suppressing the evolution of digital assets. As Crypto calls for same-day settlements, 24/7 markets, and non-Fiat as collateral, Blockfill is looking for ways to best meet the needs of digital asset traders, while leveraging traditional building blocks.
BlockFills also offers cash settles and physically delivered products to meet the needs of all kinds of professional and institutional traders. Turnkey solutions from Blockfill allow businesses to run and run in digital asset companies to avoid experiencing FOMO.
The digital assets landscape is very unique in that it was developed by retail investors and evolved for institutional markets. We are credited with the first movers of the digital asset retail space and aim to capture part of the innovative spirit when developing products.
Your company recently launched the Blockfills Coindesk 20 options market. Can you tell me more about that?
Blockfill provides institutional grade liquidity to the Coindesk 20 index, which measures the performance of key digital assets and applies a cap market capitalization weighting methodology to ensure portfolio diversification. Additionally, we offer Blockfills Coindesk 20 options market products to meet the demand for diverse, tradable digital asset products beyond BTC and ETFs. I’ve heard about the demand from qualified institutional market participants.
Hyperion Decimus’s prominent digital asset managers and multi-tactical crypto hedge funds began trading their products in January this year.
What’s next for blockfill? Where should I go for additional information?
We work strategically with our partners to provide an enhanced level of service for digital asset trading. Recently, we have worked with CQG, a leading global provider of high-performance technology solutions for market makers, traders, brokers, commercial hedging and interactions, bringing industry-leading reliable prices and deep liquidity to our vast customer base. Our market participants also benefit from CQG’s facility grade technology and ability to use trading tools.
It also expands its relationship with players in key industries such as custody provider Fordefi, London-based banking group BCB, CQG and Coindesk Index to enhance the digital asset experience.
Blockfill will also launch global offices in Dubai, Brazil and the UK. Those looking for more information can visit blockfills.com.
Disclosure:
*Derivative products only available to qualified responders. For US people, a client is a qualified contracting participant (“ECP”) as defined in Section 1A (18) of the Product Exchange Act and Related Guidance. Non-US must qualify as a qualified professional client.
The information in this article should not be construed as an offer to sell, solicitation, or offer to purchase a contract for differences (CFDs), cryptocurrency, futures, forex or the above-mentioned options. All information contained herein is considered to be accurate and Reliz Ltd has made no representations regarding the accuracy or completeness of any data, statistics, research or opinions expressed, and should not rely on such reliance. The risk of trading can be substantial. Each investor should consider whether this is a good investment. Those who act on this information are responsible for their actions.
The author’s opinions and opinions are unique and not related to the Coindesk index. The interview was conducted by Coindesk Indices and is not related to Coindesk editing.
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