Ether Takes Step Toward Institutional US Trading

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ConsenSys, the New York-based blockchain application startup, has announced today it is partnering with TrueDigital, a new affiliate of online interest rate swap marketplace trueEx, in an effort to develop a benchmark price for Ethereum’s ether cryptocurrency. According to an announcement, the two firms are planning to design a target reference index for the price of ether (ETH), the second largest cryptocurrency by total value, as an initial step towards the goal of making more crypto trading products available for institutional investors. The partnership news comes alongside trueEx’s announcement that the company is planning to launch a derivatives marketplace for cryptocurrency assets.

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