Bitcoin

Tim Draper and Pantera Capital support the exchange of new crypto derivatives

Some of the biggest names in the blockchain space have advocated a new exchange of cryptocurrency derivatives. This suggests that the next bull market could be driven by institutional investors.

The crypto derivative platform globe raised $ 3 million in initial investment to launch Globe Derivative Exchange. The new platform is intended to attract institutional investors into the world of cryptocurrencies. The billionaire is one of the startup’s early-stage investors Tim Draper, the Blockchain Investment Fund Panther Capital and the venture capital company And combinator.

The Pantera Executive, Paul Veradittakit cited growing institutional interest in cryptocurrencies as one of the main reasons his company decided to invest in Globe.

Tim Draper and Pantera Capital support the exchange of new crypto derivatives
Tim Draper and Pantera Capital support the exchange of new crypto derivatives

In a quote shared with Cointelegraph, Veradittakit said:

“We are seeing a wave of interest from leading banks, fintech companies and portfolio managers in crypto assets. Globe has created the platform and products that these discerning market participants need and expect … We are excited to support them to the Globe team.” in providing a next generation platform for the crypto financial system. “

globe has developed its own risk and matchmaking engine it calls Thor. The company claims that Thor was built by engineers from leading financial services companies such as JP Morgan, BAML, Citibank, UBS and Getco.

Crypto derivatives trading has exploded this year. The futures on BitMEX, HuobiDM, OKEx and Binance all saw tremendous increases in volume. Increasing derivatives are just one of the many ways the The digital asset industry has only moved on for three years.

One recently report of cryptocurrency exchanges octopus noticed, that Derivatives are “now at least 4.6 times as large as the spot volume” and that this trend is likely to continue.

Kraken says that The use of leverage is one of the greatest attractions of derivatives platforms. Globe claims on its official website to offer up to 100x leverage.

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