Argentina, the country that wants to stay a step ahead of the crypto market. Considerately, it is one of the fastest nations to adopt Bitcoin.
Currently, Rofex, Argentina’s largest futures markets are all set to dwell into bitcoin trading. Rofex is also referring as the Mercado de Termino de Rosario which is now offering services in cryptocurrencies.
According to few months discussions, reportedly the preliminary frameworks includes custody services as well as allows clients to use bitcoin as collateral for upcoming contracts.
Meanwhile, Argentina is massively enlightening in futures. Since Rofex is particularly aiming to capitalize on potential very soon.
The largest futures market in Argentina, Rofex:
“Although the approach to clients is “still at a laboratory stage,” with Blockchain services and others related to cryptocurrencies as possibilities, “our idea is to make an announcement before the end of the year”.
Related Coverage: Bitcoin has surged – CME announced Bitcoin future trading
This week, the second American futures market is Rofex which intends to start involving with booming crypto world. However, CME Group, US exchange operator declares that it is the first regulate US exchange to offer bitcoin futures.
“I would clearly like to do bitcoins futures because it’s our core business,” Rofex head Diego Fernandez told Bloomberg. However, that does not appear likely to happen in the near future, because the contracts would have to be approves by the National Securities Commission (CNV), the country’s regulatory agency, “and this involves a long process and the need to build an index or a reference value”.
For Rofex, the process will start with the launch of is cryptocurrency custodial and collateral services by next year.
Probably, if the announcement that Rofex will initiate offering crypto services to its clients then it will be a crucial step ahead for Bitcoin adoption in Argentina. Moreover, in Argentina as of 2012, digital currency intends to gain popularity. Meanwhile, Cristina Fernandez de Kirchner, President tightened currency controls and inflation debase.
At last, in Argentina, the cryptocurrency interest may be here to stay and expand to other areas of the economy.