XBTO, an active global crypto investor, has been granted a license by the Bermuda Monetary Authority under the Digital Asset Business Act. The license has been granted to XBTO International (XBTOI), which is owned by XBTO Group and is only the third firm to be granted this type of license in Bermuda. Present in Bermuda […]
Ten financial services and technology firms leading developments in the digital asset and blockchain space have joined together to create the Association for Digital Asset Markets (ADAM) to establish a Code of Conduct for emerging digital asset markets.
US-based ADAM will proactively seek comprehensive standards for digital asset market participants. The group, which includes BitOoda, BTIG, Cumberland, Galaxy Digital, Genesis Global Trading, GSR, Hudson River Trading, Paxos, Symbiont and XBTO, says it will work with current and former regulators to provide rules for the efficient trading, custody, clearing and settlement of digital assets.
Future guidelines will encourage professionalism and ethical conduct by all market participants, increase transparency by providing information to regulators and the public, and deter market manipulation, the group stated.
Today, trueDigital Holdings (TDH), a developer of institutional-grade digital asset trading solutions, announced that it has partnered with 10 liquidity providers and contributors, including Genesis Global Trading, XBTO Group, Circle, DV Chain, Hehmeyer Trading + Investments and Altonomy, to create what it claims are the first market maker based bitcoin and ether pricing indices.
“The launch of the trueDigital bitcoin and ether reference rates sets a new standard for the digital asset market and allays common concerns about the robustness and lack of transparency inherent in retail exchange-based bitcoin pricing composites,” says TDH in a release issued today.
The trueDigital reference rates, comprised of bid and offer pricing from top cryptocurrency market makers, include automated anti-manipulation safeguards such as outlier detection and price banding.