Subscribe for notification
Crypto

Wintermute Expands oneZero with CFDs

Wintermute Asia, a crypto derivatives trading firm, has expanded its access to the oneZero network to include spot and CFD products.

CFDs are a recent addition to Wintermute’s OTC derivatives products, according to Wintermute Asia. They were initially introduced in March. The market maker reported that trading volumes have experienced substantial growth, surpassing threefold by June.

CFDs are a form of derivative product. Speculation regarding the future trajectory of a market’s price is possible through a contract for difference (CFD).

Banks and financial institutions utilize the oneZero network, which is a transaction technology network.

Hedge Risk in Cryptocurrency CFDs

“The consistent growth in crypto adoption and the market momentum of this year is fueling a surge in interest in crypto trading.” The introduction of OTC-cleared derivatives, such as crypto CFDs, to enhance returns and mitigate risk is partially responsible for this interest, according to Evgeny Gaevoy, CEO of Wintermute.

To safeguard investments from market fluctuations, confident investors may opt to mitigate risk using CFDs. This entails adopting an opposing stance in a CFD to the one in which one is invested to minimize a partial potential loss.

“We have observed a substantial increase in the number of traditional FX market participants, including banks and brokers, who are now pursuing top-tier liquidity providers,” stated Gaevoy.

Wintermute reported implementing multi-currency collateral support, which enables counterparties to submit any crypto or fiat as margin collateral for CFD trading.

Wintermute Offers Liquidity for Crypto ETFs

Wintermute announced in May that it supports the newly launched Hong Kong spot Bitcoin and Ethereum exchange-traded funds (ETFs) by providing liquidity.

The market maker supplies liquidity to two Hong Kong-licensed digital asset platforms—OSL Digital Securities and HashKey HK Exchange.

During a challenging year for crypto exchanges, Wintermute reported an astounding 400% increase in over-the-counter (OTC) trading volumes for 2023 earlier this year. Wintermute reported that its OTC trading volume has increased fourfold despite the market downturn.

King David

David is a writer and digital marketer with a History degree. Formerly a Shill Angel at Aex Global Exchange. Currently thriving as a Cloud and AI Engineer, David is also passionate about Blockchain and Web3 technologies. Through his writing, he seeks to educate and inspire, sharing insights on the intersection of AI, Web3, and Blockchain Technology.

Disqus Comments Loading...

Recent Posts

Charles Schwab CEO Regrets Not Investing In Crypto

Rick Wurster, set to become CEO next year, stated he has no plans to buy crypto but aims to support…

7 minutes ago

Federal Task Force Busts Cartel-Linked Crypto Laundering Ring

Nine individuals were charged with laundering U.S. drug proceeds into cryptocurrency for Mexican and Colombian cartels from 2020 to 2023.…

2 hours ago

Truemarkets Raises $4M in NFT Sale, Vitalik Buterin Purchases 400 NFTs

Truemarkets raised over $4M by selling 15,071 NFTs at $250 each. Vitalik Buterin bought 400 NFTs worth $107K in the…

2 hours ago

Apple Acknowledges Security Flaw Exposing Crypto Users—Here’s What to Do

Apple acknowledged on Monday that its devices were susceptible to an exploit that enabled the execution of remote malicious code…

2 hours ago

Hackers Breach Tate’s Online ‘University,’ Steal Data

Hackers have infiltrated an online course that was established by Andrew Tate, a self-described misogynist and purported influencer The compromise…

8 hours ago

Apple Builds Conversational Siri with LLMs

Apple is reportedly working on an enhanced version of Siri, incorporating large language models (LLMs) to create a more conversational…

8 hours ago