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B2C2 Launches New Gold By-product Priced and Settled in Bitcoin



Over-the-counter (OTC) buying and selling platform B2C2 has created what it calls the primary product for gold buying and selling utilizing Bitcoin (BTC) for pricing and settlement.

Macro gamers eye new BTC gold product

Talking to business information outlet The Block on Oct. 10, the corporate’s CEO Max Boonen said that the transfer comes on the again of accelerating demand from large-volume merchants.

“Purchasers commerce an oz of gold priced in bitcoin, and the by-product is settled in bitcoin,” he defined, including that one ounce (roughly $1,507) is the minimal attainable commerce amount.

Boonen additionally identified the market’s want for a Bitcoin-based gold by-product:

“The purchasers we’re seeing demand from are those that have their very own person base of merchants and macro hedge funds.”

Highlight on Bitcoin contracts

As Cointelegraph reported beforehand, gold has seen a renaissance this yr as cryptocurrencies corresponding to Bitcoin additionally confirmed rising energy. A heated debate subsequently ensued, with gold proponent Peter Schiff claiming that the valuable metallic would in the end outperform Bitcoin.

In the meantime, B2C2’s product is conspicuous for utilizing Bitcoin because the settlement asset. Final month, that pattern continued with the launch of Bakkt’s bodily Bitcoin futures, payouts for which is able to likewise happen solely in BTC.

In July, B2C2’s former managing director joined main cryptocurrency alternate Kraken to steer its new Bitcoin futures operation.





Republished from: Original Source

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