Zero Hash, a digital asset and fiat currency custodian, calculation agent and settlement service, has begun supporting derivatives.
Specifically, Zero Hash – which is owned by SeedCX – is now able to support all back office settlement functions for forwards, and the firm says that it will be expanding to options soon.
The support of derivatives on the Zero Hash settlement service allows participants to customise the settlement of their forwards contracts, and to decide the frequency in which those calculations occur, with the aim of providing greater flexibility to institutional investors in the digital asset space.
“Derivatives are a rapidly evolving area within the digital asset industry, yet there is a critical demand in the market for a regulated post-trade settlement utility, like Zero Hash,” says Brian Liston, Seed CX co-founder and president of Zero Hash. “We’re excited to service that demand with the launch of this new functionality. Zero Hash can now enable any trading platform or set of participants to trade and settle forwards in an efficient and secure manner.”
“We see a growing demand for third-party settlement platforms to handle margin and settlements between counterparties,” says Darius Sit, managing partner at QCP Capital. “Zero Hash has been leading the way in this space, and the launch of derivatives support in addition to its spot settlement infrastructure is a testament to their focus and expertise.”
Zero Hash announced in July that it had received a virtual currency license from the New York Department of Financial Services (NYDFS). In June, Zero Hash was voted Innovator of the Year by the 2019 Profit & Loss Readers’ Choice Awards. This followed the subsidiary’s successful launch of a suite of over-the-counter (OTC) trade settlement services for digital assets earlier this year.