The new York startup ConsenSys, today announced its partnership with TrueDigital, a subsidiary of TrueEx – marketplace operating on the market for interest rate swaps, in an attempt to formulate underlying (index), the price of Ethereum.
According to the statement, the companies plan to develop a reference price index for Ethereum (ETH), the second largest capitalization of the cryptocurrencies. Company suggest that this will be the first step that will bring this cryptocurrency to institutional investors.
TrueEx also said it plans to launch a derivatives market for cryptocurrency.
It is assumed that the first product will be a bitcoin contract on the trading platform TrueEx, but under the brand TrueDigital. The contract is currently awaiting the approval of the Commission commodity futures U.S. (CFTC).
The CFTC has allowed futures trading on bitcoin the two exchanges: CME Group and Chicago Board Options Exchange (CBOE).
Although the partnership ConsenSys and TrueDigital is just beginning, it may be the first step to create derivative products on the basis of ethereum with the official price index.
Sunil, Hirani, founder TrueDigital, commented on this partnership:
Institutional investors and commercial partners are ready to a regulated and liquid market to get access to these increasingly important digital currency and goods. But the market very lack of the necessary infrastructure and platforms.