After CME, Now Argentina Plans to Launch Bitcoin Futures

Argentina, one of the largest Bitcoin players wishes to keep up its fortification in the cryptocurrency market in days to come. Mercado de Termino de Rosario, famously known as Rofex, is one of the largest futures exchanges in Argentina offering a group of services to the investors intrigued by cryptocurrencies. Discussions in regards to the same began a half year back and initial drafting has likewise been finished relating to ranges of offering custody services to the crypto token alongside plausibility of bitcoins in being utilized as collateral by customers in future trading.

Diego Fernández; who heads Rofex, told Bloomberg that the approach to the customers is

“still in a laboratory stage, our idea is to make an announcement before the end of the year.”

The interests of Rofex comes in the midst of a worldwide crypto-boom, where the segment’s market capitalization swelled to more than $190 billion from $ 12 billion toward the start of the year. Bitcoin, the giant in cryptocurrencies, has surged more than 630% so far this year, and the world over developers have made other altcoins trying to ride the tide.

Enthusiasm for the digital currency might be setting down deep roots and extend to different zones of the economy. Following the path of the CME, Rofex doesn’t preclude offering bitcoin futures, albeit as indicated by Fernandez the idea is still in the infancy stage. He added,

“I would clearly like to do bitcoins futures, because it’s our core business,”

In any case, the idea would need to be affirmed by the regulatory authority, the National Securities Commission, known as CNV, “and this involves a longer process and the need to build an index or a reference value.”


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