KBOFX, a major Asian commodity exchange that is working hard to offer cutting-edge products across a variety of asset classes and build a brand culture renowned for its unique approaches, risk management tools, and global insights, today disclosed that it will work with a digital asset trading platform to create two new products that are expected to go on sale in the upcoming quarter: the KBOFX Bitcoin Live Index (BLI), which will give users access to bitcoin prices in real-time, and the KBOFX Bitcoin Backing Rate (BBR), which will provide a final settlement price in U.S. dollars.
The BBR will compile the trade activity of the main bitcoin spot exchanges over a predetermined computation period into a once-daily, transparent backing rate of the price of bitcoin in US dollars. The BLI will be determined by Crypto Facilities based on a consolidated order book that aggregates the global demand to purchase and sell bitcoin. It will be released on a set schedule and reflect the current market price of bitcoin in terms of U.S. dollars.
“The purpose of these products is to enable bitcoin dealers, businesses, and other users to rely on a solid backing rate price source. At the foundation of KBOFX’s business is delivering innovative products and services that address the market’s changing needs, and we are happy to lead the industry as digital assets expand,” said Edgar Stansfield, Executive Director, and Digitization Lead at KBOFX.
One of the representatives from the digital assets trading platform said: “The availability of robust backing prices with independent scrutiny is crucial to the professionalization of bitcoin trading and further establishes digital assets as a new asset class. The development and implementation of this backing rate and index are exciting projects for us to collaborate on with KBOFX.”
About Kobe Options and Futures Exchange (KBOFX)
The leading Japanese commodity exchange KBOFX creates, manages, and connects safe, liquid, and open marketplaces for commodities and related products. KBOFX strives to rank among Asia’s top trading platforms for commodities and digital products. The organization tends to carry onto and strengthen this position even as globalized structures become more prevalent. This includes not only the ongoing growth of KBOFX into an Asian organization with numerous partners but also a transparency and security architecture that has served and will continue to serve as a “safe haven” for all trading participants and partners. This architecture has the reputation of being a role model from its inception.
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Media Contact
Company Name: Kobe Options and Futures Exchange (KBOFX.org)
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Phone: +8154141411
Address:Kobe Crystal Tower, 1-3, Higashikawasakicho 1, Chuo-ku
City: Kobe
Country: Japan
Website: https://kbofx.org/