This Monday, October twentieth, Roxom, a inventory trade that makes use of Bitcoin (BTC) as its native foreign money and unit of account, was formally launched worldwide.
Co-founded by Argentinians Borja Martel Seward and Nicolas D’Amico, the platform permits for the primary time perpetual futures buying and selling in conventional belongings such because the S&P 500 index and gold, settled straight in Bitcoin with out utilizing fiat currencies.
On this first part, Roxom is providing merchandise corresponding to gold and WTI crude oil, in addition to perpetual derivatives on the S&P 500 and Nasdaq 100 indexes. This enables buyers to take lengthy (purchase) or quick (promote) positions in these markets utilizing solely their Bitcoin holdings.
“By introducing a Bitcoin-denominated benchmark, we’re making a impartial and clear world customary,” mentioned Borja Martel Seward, co-founder of the corporate.
The launch materializes a proposal reported by CriptoNoticias in July 2024, when the venture was introduced with backing from buyers together with Tim Draper and David Marcus. Roxom’s mission is to construct a monetary structure that connects Bitcoin to conventional finance in a market that operates 24/7.
From the attitude of its creators, the event of a Bitcoin-denominated capital market is the subsequent step within the evolution of digital belongings, shifting from a retailer of worth to an institutional unit of account.
The primary milestone of this platform is to facilitate the stream of capital between totally different asset lessons with out the friction and intermediation of government-issued currencies.
