StoneX Markets, a subsidiary of StoneX Group Inc. (StoneX), a provider of execution, post-trade settlement, clearing, and custody services across asset classes and markets worldwide, today announced that it successfully executed and settled its first cash-settled BTC/USD swap.
The counterparty to the trade was one of StoneX’s institutional FX clients, Liquidity Solutions Global, the London-based subsidiary of DriveWealth Holdings, and a liquidity provider to multiple crypto exchanges. The company’s institutional FX division made USD cash-settled crypto swaps available for trading to institutional FX clients earlier this month.
This new offering complements the company’s traditional institutional FX products, including more than 40 currency trading pairs across major and emerging market currencies, forwards, non-deliverable forwards, and options.
StoneX is a long-time trusted provider of execution, post-trade settlement, clearing, and custody services to 52,000 commercial, institutional, and global payments clients, and 370,000 active retail accounts through its Forex.com & City Index brands.
Current plans call for StoneX to roll out additional crypto products and services to both institutional and retail clients over the next year.