Markets
Share this article

Japanese Financial Giant SBI Holdings Launches Short-Term Crypto Derivatives

Already live on SBI's forex trading platform, the contracts for difference (CFDs) are available in bitcoin, ether and XRP flavors.

By Daniel Palmer
Updated Sep 14, 2021, 9:49 a.m. Published Aug 28, 2020, 1:41 p.m.
SBI Holdings

Japanese financial firm SBI Holdings is launching trading for a type of cryptocurrency derivative called contracts for difference, or CFDs.

STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy.

  • Already live on its foreign exchange trading platform, SBI FX Trade, the contracts come in bitcoin BTC$68,575.35, ether ETH$1,991.06 and XRP flavors.
  • The firm said in an announcement Friday that traders can pair the crypto assets with both the U.S. dollar and the yen, meaning there are six CFD choices in total.
  • Orders can be placed from around 15 yen ($0.14) to a maximum open position of 500 bitcoin ($5.73 million at press time), for the BTC/JPY pair.
  • SBI Holdings said it also has a mobile app for the CFD trading and orders can be placed around the clock on any day of the week.
  • Users can make use of leverage – in effect, borrowing from the platform – to make trades.
  • CFDs are very short-term contracts that pay the difference in price between the open and closing trades.
  • They are not without controversy and a U.K. financial regulator, the Financial Conduct Authority (FCA), has said it plans to ban these types of derivatives for retail traders.
  • The FCA said last year that such financial products are “ill-suited” to retail investors “who cannot reliably assess the value and risks of derivatives or ETNs that reference certain cryptoassets.”
  • SBI Holdings specifically said in its announcement it will be catering to both beginner and expert traders.

Also read: Financial Firm SBI Holdings to Offer XRP Cryptocurrency as Shareholders’ Benefit

DerivativesJapanTradingSBI HoldingsCoinFlash

Di più per voi

'We do not do illegal things': Inside a U.S.-sanctioned stablecoin issuer's race to build a crypto giant

Di Sam Reynolds|Editor Aoyon Ashraf, Nikhilesh De
9 ore fa
Oleg Ogienko, director for regulatory and overseas affairs at A7A5, at Consensus in Hong Kong (provided)

Oleg Ogienko, the public face of A7A5, pitched the ruble-pegged stablecoin as a fast-growing trade rail built to move money across borders despite sanctions pressure.

Cosa sapere:

  • Oleg Ogienko, the public face of ruble-denominated stablecoin issuer A7A5, insists the firm complies fully with Kyrgyz regulations and international anti-money-laundering standards despite extensive U.S. sanctions on its affiliates.
  • A7A5, whose issuing entities and reserve bank are sanctioned by the U.S. Treasury, has grown faster than USDT and USDC and aims to handle more than 20 percent of Russia’s trade settlements, primarily serving businesses in Asia, Africa and South America trading with Russian partners.
  • Ogienko said that he and his team were developing partnerships with blockchain platforms and exchanges during Consensus in Hong Kong, though declined to name specifics.
Leggi tutta la storia