MVIS and CryptoCompare Launch the MVIS CryptoCompare Bitcoin Benchmark Rate

MV Index Solutions in partnership with CryptoCompare, a specialist in digital asset data, today announced the launch of the MVIS CryptoCompare Bitcoin Benchmark Rate (ticker: BBR), an index designed to offer a robust hourly price for Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term in USD.

MVIS CryptoCompare Bitcoin Benchmark Rate covers large exchanges in CryptoCompare’s Exchange Benchmark; including Bitstamp, Coinbase, Gemini, itBit and Kraken, at the time of launching.

SEBA Bank AG, a Swiss bank for digital assets and Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term specialising in investments, trading and custody, was closely involved in the development of the reference rate and will use it to launch new, innovative products for the digital assets market, according to the announcement.

“It is essential for derivatives on cryptocurrencies to have a representative reference rate which is robust against market distortions and manipulations. We are pleased to have contributed to the MVIS CryptoCompare Bitcoin Benchmark Rate and to play a key role in helping the emerging derivatives market gain greater acceptance among professional and institutional investors,” Daniel Kuehne, head of asset management at SEBA, said.

A reference rate for funds, asset managers and exchanges

The index serves as a reference rate for funds, asset managers and exchanges who wish to build financial products on bitcoin, such as derivatives and ETPs, using a robust index. It aggregates transaction prices on the top five exchanges selected via the CryptoCompare Exchange Benchmark and disseminates hourly. The index is based on an average of quantity weighted median prices.

“We are pleased to launch this index, which is designed to provide a price for bitcoin which is hard to manipulate,” said Thomas Kettner, managing director at MVIS. “The index follows our long-term mission in supporting new product developments with the aim of providing investors access to bitcoin data”.

“We are excited to be leading the charge to bring greater transparency to the digital asset class by providing high-quality data and trusted indices. Working in partnership with MVIS, we are pleased to offer investors a premium tool to better measure the performance of their Bitcoin exposure,” Charles Hayter, CEO and co-founder of CryptoCompare, noted.

MV Index Solutions

MV Index Solutions (MVIS®) develops, monitors and licenses the MVIS Indices, a selection of focused, investable and diversified benchmark indices. The indices are especially designed to underlie financial products. MVIS Indices cover several asset classes, including equity, fixed income markets and digital assets and are licensed to serve as underlying indices for financial products. Approximately USD 14.13 billion in assets under management (as of 2 June 2020) are currently invested in financial products based on MVIS Indices. MVIS is a VanEck company.