TrueEX and ConsenSys Launch Strategic Partnership

Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term outfit ConsenSys and TrueDigital Holdings (TDH), a subsidiary ‎of swap execution facility trueEX, have announced a joint venture to develop ‎a benchmark price for Ethereum in a bid to win business from institutional investors ‎looking to enter the cryptocurrency market.‎

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Ethereum had a stellar performance last year, and also has for the most ‎part maintained a hold on the number two position ‎behind Bitcoin in terms of price and market capitalization. ‎

The new collaboration creates the possibility of large-scale adoption ‎among large financial institutions supporting both the vastly ‎increased interest in the virtual coins and their inclusion as an asset ‎class within relevant investment products.‎

At the same time, trueEX announced plans to launch a regulated derivatives ‎marketplace for the crypto assets. Pending regulatory approval by the CFTC, the swap ‎execution facility will initially list contracts for Bitcoin non-deliverable forwards ‎‎(NDFs) settled in the US dollar. ‎

trueEX’s affiliated brand, trueDigital Holdings, will provide product development, ‎and act as the sales and marketing arm for the new products.‎

ConsenSys and trueEX said in a statement that institutional ‎cryptocurrency trading has been held back by the absence of ‎a necessary foundation, infrastructure and platforms. As such, their ‎partnership allows institutional investors to take advantage of the new ‎capability to trade 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 either for their own accounts or ‎to offer linked products to their customers.‎

trueEX noted that over the last few years, the total market cap of ‎cryptocurrencies has grown from less than $1 billion to $420 billion. ‎However, the marketplace is lacking “the necessary foundation, ‎infrastructure and platforms that institutional investors have come to expect ‎in other important markets," said Sunil Hirani, trueEX co-founder and CEO.

He added: “Institutional ‎investors and commercial partners are ready for a regulated and liquid marketplace to ‎gain exposure to and hedge these increasingly important digital currencies and ‎commodities.”