The offering matches bitcoin (BTC), ether (ETH) and litecoin (LTC) against the euro, U.S. dollar and Japanese yen, initially for Saxo Markets’ clients in Singapore and Australia.
Rollout to other key markets will follow in the coming weeks, a Saxo Markets spokesperson told CoinDesk.
The news marks Saxo Markets’ first new crypto offering since 2017 when it launched exchange-traded notes (ETNs) tracking bitcoin and ethereum.
The new offering is designed to complement the company’s existing range of crypto trackers and ETNs, according to Saxo’s emailed announcement Tuesday.
The cryptocurrency traded will be in the form of derivatives rather than the actual coins.
Retail clients will be able to trade on 60% margin with accredited investors trading on 40% or 50%.
Source: Saxo Markets Launches BTC, ETH and LTC Trading Against EUR, USD and JPY – Fintechs.fi
Follow Fintechs.fi on Twitter and Facebook!