CMC Adds Polygon and Solana

CMC Markets expanded its crypto offering this month with the addition of stable coins Polygopn and Solana, taking the offering to a total of 18 major and Altcoins Altcoins Altcoin is a term that describes any cryptocurrency that isn’t Bitcoin. Since Bitcoin’s inception, countless cryptos have been launched. Many of these have met varying levels of success, though few have risen to rival Bitcoin itself.Ether, XRP, Stellar, Monero, Ada, and Dash are a few examples of the more popular altcoins. There are currently over 5,000 altcoins and this number seems to grow constantly. The leading altcoins as of May 2020 are Ethereum and Ripple.In terms of structure, altcoins c Altcoin is a term that describes any cryptocurrency that isn’t Bitcoin. Since Bitcoin’s inception, countless cryptos have been launched. Many of these have met varying levels of success, though few have risen to rival Bitcoin itself.Ether, XRP, Stellar, Monero, Ada, and Dash are a few examples of the more popular altcoins. There are currently over 5,000 altcoins and this number seems to grow constantly. The leading altcoins as of May 2020 are Ethereum and Ripple.In terms of structure, altcoins c Read this Term, along with three crypto indices.

Speaking to Richard Elston, Group Head of Institutional at CMC Markets Connect, he explained “we’re always keen to add new coins to meet customer demand and that’s very much what drove the addition of these two instruments. However, our own internal processes, along with the need to custody and hedge these positions with tier one regulated entities does make the process of adding coins rather more challenging than we see in other asset classes.”

Whilst CMC Markets in unable to offer digital assets to UK retail customers, the company noted that demand is strong and rising amongst other institutions who are looking for an efficient way of gaining exposure to cryptos, but need to do so through a fully regulated counterparty.

About CMC Markets Connect

CMC Markets Connect – the rebranded institutional offering which launched at the start of the year – continues to add to its tradable universe with a total of almost 12,000 FX pairs, indices, treasuries, commodities, single stocks, cryptos and ETFs now on offer.