trueDigital Expands Global OTC Bitcoin and Ether Indices
January 30, 2019 | New York
Three new partnerships announced
Index has amassed more than 25 million price points
Provides robust and transparent view into institutional digital asset markets
trueDigital Holdings, a New York-based global financial technology company, announced today partnerships with three additional contributors to its over-the-counter (OTC) reference rates for Bitcoin and Ether. CMT Digital, Blockfills and QCP Capital join nine other contributors, including, among others, Altonomy, DV Chain, Genesis Global Trading, Hehmeyer Trading + Investments, Tilde, Wyre and XBTO.
The trueDigital reference rates, launched in July 2018, have amassed more than 25 million price points and have consistently been a source of truly institutional pricing in the marketplace. The IOSCO compliant reference rates — comprised of bid and offer pricing from top cryptocurrency market makers — include automated anti-manipulation safeguards, such as outlier detection and price banding. Investors are provided the most accurate representation of actionable liquidity within the institutional digital asset markets.
“trueDigital is swiftly emerging as a leader in the digital asset marketplace by providing key infrastructure and products for broader institutional adoption of digital assets. This is evidenced by these new additions to our rapidly expanding OTC digital asset indices, as we continue to capture a complete picture of digital asset markets and pricing. Our new partnerships illustrate the continued support in the marketplace for transparency and help to advance the opportunity for truly institutional products in the space,” stated Nick Goodrich, director of business development at trueDigital.
“CMT Digital welcomes an opportunity to contribute to trueDigital’s OTC reference rates,” said Brad Koeppen, head of crypto trading at CMT Digital. “By allowing for better price discovery for cryptocurrencies and providing much needed transparency into digital assets, the trueDigital’s reference rates help facilitate the necessary trust required to stimulate growth in the industry.”
"The digital asset market is truly global, and trueDigital is helping companies like QCP Capital become well positioned in the OTC arena," explained Darius Sit, managing partner at QCP Capital. "As a leading market maker in Asia, we are happy to expand trueDigital's reference rates with greater coverage in the APAC region. trueDigital's reference rates provide the most robust view of global OTC pricing available in the marketplace today.”
"As a leading digital asset liquidity provider serving a global client base, Blockfills is joining in these reference rates to provide our clients and the industry much sought after transparency," Nick Hammer, chief executive officer at Blockfills added.
This announcement comes on the heels of trueDigital’s recent launch of a real-time payments platform in partnership with Signature Bank, as well as the company’s news relating to Commodity Futures Trading Commission (CFTC) certification for an XBT/USD Deliverable Swap contract to be unveiled in early 2019.
To learn more about the reference rates and to see supporting documentation, visit our Index Page.
About trueDigital Holdings, LLC
trueDigital Holdings, LLC, a New York-based global financial technology company, provides innovative solutions to financial markets utilizing blockchain-based technologies to enable frictionless asset transfer and settlement. trueDigital deploys a private blockchain and smart contracts to govern the tokens, which lays the groundwork for the future. trueDigital also created the first-of-its-kind margined deliverable swap contracts on Bitcoin as well as the first institutional OTC-based digital asset reference rates.