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Bitstamp, a prominent crypto exchange, has officially obtained a MiFID Multilateral Trading Facility (MTF) license from the Securities Market Agency in Slovenia. The license will empower the exchange to enhance its offerings for both institutional and retail clients. This pivotal approval marks a new chapter in Bitstamp’s trading journey.
Bitstamp to Unlock New Opportunities
With this license, Bitstamp can introduce sophisticated financial products, including crypto derivatives like perpetual swaps. These contracts will allow traders to speculate on the price movements of crypto tokens without any expiration date.
This development provides more flexibility and opportunities in trading strategies. The license also allows Bitstamp to trade stocks, commodities, bonds, and structured products, significantly broadening its market appeal.
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Bitstamp’s global CEO, Jean-Baptiste Graftieaux, stressed the importance of this license. He stated that it represents not only the company’s commitment to safety, security, and compliance but also underscores the growing maturity of the crypto industry as a whole.
Graftieaux revealed that the MiFID MTF license operates under the European Union’s Markets in Financial Instruments Directive (MiFID II). This regulatory structure allows exchanges to function within a regulated framework while offering diverse financial products.
Entering the Crypto Derivatives Arena
Bitstamp’s latest move responds to the growing demand from institutional clients for crypto derivatives. Bitstamp’s debut into crypto derivatives trading positions it in a competitive position within the evolving market landscape.
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Key players, including Binance, Coinbase, BitMEX, and the defunct FTX Derivatives, notably dominate this market sector. Arkham Intelligence Inc., a blockchain data firm, recently mentioned it is preparing to launch a crypto derivatives exchange by November.
The demand for crypto-tied products is rising, drawing more exchanges into the fray. The Chicago Mercantile Exchange (CME) recently introduced its Bitcoin Friday Futures (BFF). This digital product hit a record first-day trading volume of over 31,498 contracts.
This trend shows that institutional investors are eager for new crypto products, which is likely to lead to further industry developments.
A New Era for Bitstamp and Robinhood
Bitstamp was recently acquired by the U.S.-based fintech company Robinhood in a $200 million deal.
This acquisition aimed to expand Robinhood’s crypto offerings and global footprint, particularly in Asia, the United Kingdom, and the European Union. Set to close in early 2025, it signifies a strategic move to enhance Robinhood’s presence in the competitive crypto market.
However, Robinhood has faced its share of hurdles in the crypto sector. The firm received a Wells notice from the U.S. Securities and Exchange Commission (SEC) in May. The regulatory agency alleged that the firm violated securities related to its crypto business.
