BTSE launches Brave New Coin’s DeFi index derivative

Cryptocurrency exchange BTSE has released a DeFi index derivative thanks to data from Brave New Coin

Brave New Coin has announced the launch of a DeFi index, which has been made available as a perpetual swap contract on BTSE.

BTSE is a multi-currency spot and futures trading platform that launched in 2018 by Jonathan Leong and Brian Wong.

The launch of the BNC-BTSE DeFi Index represents the first of five innovative perpetual swap derivative products to go live by the end of 2020.

As Decentralised Finance (DeFi) products see exponential growth in trading volume, Brave New Coin’s DeFi index on BTSE’s  exchange gives users the opportunity to long or short existing developments within DeFi globally, which is similar to what FTX launched last month.

“Our goal has always been to create innovative and convenient services for our growing client base. With the high demand of DeFi products, we were attracted to BNC’s DeFi index as it represents a strong methodology that offers longevity,” said Jonathan Leong, CEO of BTSE.

Being able to invest in an index as opposed to any single speculative new asset minimises risk and gives the opportunity to invest in the industry as a whole.

“When we signed our expanded partnership with BTSE three months ago, we knew the DeFi index that was in production would be the ‘first cab off the rank.’ The market demand for sophisticated and well-designed products giving exposure to this sub-sector is truly exponential,” said Fran Strajnar, Co-Founder and Chairman of Brave New Coin.

“Our aim was to design a solid methodology with sufficient transparency to be replicated and understood, and better longevity than the current DeFi indices that were recently rushed to market by various conflicted exchange operators. We are very pleased and excited to see our DeFi index power perpetual swaps on BTSE and, as they aim to cater to institutional traders, we believe this product will be well received.”

Brave New Coin’s third-generation (“V3”) crypto index infrastructure has been in high demand since its launch in early 2020 from companies including BTSE, the Toronto Futures Options and Swaps Exchange (tFOSE), and 3-4 major brands before 2020 concludes.

BNC provides data and index solutions for several partners including Refinitiv, Amazon Alexa, Dow Jones Factiva, NASDAQ, and many more. When you ask Amazon’s Alexa for the price of any cryptocurrency, her answer comes from Brave New Coin’s data engine.

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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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