Argentina Debuts First Bitcoin Futures Contract in South America
BITmarkets Team
Jul 16, 2023
Matba Rofex, the trading platform behind the investment instrument, stated that South America’s first Bitcoin (BTC) futures contract has been greenlit and launched in Argentina.
In a nutshell, futures contracts allow market participants to bet on the future price of a certain asset, whereas buyers and sellers are obligated to buy and sell the asset at a predetermined future date.
The securities regulator of Argentina, the Comisión Nacional de Valores, has given the green light to the Bitcoin futures contract in April in efforts towards encouraging the collaboration between public and private entities with regards to new financial products.
The Bitcoin futures contract will be based on the BTC price quoted by multiple market participants which offer the BTC/ARS trading pair, pointing to the fact that all trades will be settled with the Argentinian peso.
Local media reports reveal that the BTC futures contract will only be available for institutional investors, and that there’s no pre-determined timeline for when retail investors will be able to take part in trading the Bitcoin futures contract in the nation.
Sources:
https://cointelegraph.com/news/first-bitcoin-futures-contract-debuts-argentina
