Institutional digital assets platform Tassat, formerly known as trueDigital, has teamed up with trading software provider AlgoTrader in the run up to its launch of cryptocurrency derivatives.
The deal will see Tassat provided access to AlgoTrader's institutional clients for the planned derivatives instruments. Meanwhile, those clients will benefit from being able to incorporate the products in their trading strategies, according to an announcement from AlgoTrader on Thursday.
The first of these derivatives will be "physically-deliverable, margined bitcoin swaps available for institutional investors, brokers and other eligible contract participants." While a firm date wasn't provided, Tassat said in a rebranding announcement on Sept. 3 that the launch is "imminent."
Michel Finzi, chief commercial officer at Tassat, commented on the new relationship, saying:
New York-based Tassat first revealed it would offer bitcoin derivatives to U.S. investors in July, and it's now waiting for approval from the Commodity Futures Trading Commission before it can move to a launch. The firm has previously said it will add instruments for other cryptocurrencies later.
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