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IC15 to trade on Bitbns exchange from April
March 02, 2022
CryptoWire and Bitbns exchange has entered into an agreement for listing IC15, India’s first global crypto index. The index was launched by CryptoWire on January 3, 2022.
CryptoWire launches claims to be a worldwide crypto super app, whereas Bitbns is a local crypto exchange. However, trading of IC15 on Bitbns exchange will begin from April 1, 2022, the new fiscal.
With the commencement of trading on IC15, market participants, individuals, and institutions get the advantage of spreading their risks by taking a view on the entire market versus concentrated risk on a single currency, according to a release.
The index trading mitigates the risk related to liquidity, it said, adding that it will broaden the product offerings through Exchange Traded Funds and other wealth management products, derivatives, and basket trading for arbitrage benefits.
This arrangement is similar to the trading of S&P-Dow Jones and FTSE equity indices or ETF products which trades on NYSE, CME, Nasdaq, and London Stock Exchange, the media release said.
The licensing arrangement by CryptoWire would entail royalty payments consisting of a mix of fixed and revenue dependent variable charge to cover and support research and development work.
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