Singapore Exchange (SGX), Singapore’s largest exchange, plans to launch Bitcoin perpetual futures by the second half 2025.
SGX will introduce Bitcoin in the near future (BTCThe purpose of this is to provide institutional and professional investors with a way to invest in perpetual futures. “expand institutional market access,” Bloomberg reported On March 10, 2019.
According to a report, SGX’s spokesperson said that with the Aa2 Moody’s rating on its cryptocurrency futures trading platform, it expects to provide a reliable alternative.
According to the report, SGX is awaiting the approval of the Monetary Authority of Singapore.
What are Bitcoin Futures?
Bitcoin Futures are classified as a type of cryptocurrency. cryptocurrency derivativesThe underlying asset is a digital currency, and investors can speculate on price changes by trading on the value that the cryptocurrency generates.
The crypto futures market allows investors to make a bet on a price at a particular date and time. perpetual futures offer no expiration date.
Singapore has been a world leader in blockchain and cryptocurrency acceptance. MAS adopting crypto-friendly regulations The number of crypto-licenses will double by 2024.
Crypto futures are a new trend
Bloomberg reported that SGX was not the only exchange interested in launching Bitcoin futures trades in Singapore.
EDX Markets – a crypto assets firm backed up by Citadel Securities – has reportedly revealed plans to launch crypto futures on the island in January 2025.
Related: Sygnum adds off-exchange crypto custody to Deribit with Fireblocks tech
Bloomberg News published a report on March 4th. reported that Japan’s Osaka Dojima Exchange — a Japanese-listed derivatives exchange — was also looking for approval to list Bitcoin futures in Japan.
Dojima would be one of the very first traditional Asian exchanges to deal in Bitcoin futures if it is approved.
Cointelegraph contacted SGX as well as the MAS to get a reaction on the introduction of Bitcoin permanent futures. However, no reply was received by publication.
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Source: cointelegraph.com
