Standard Chartered Bank and other financial institutions plan to enter the cryptocurrency derivatives trading platform GFO-X

Standard Chartered Bank and Virtu Financial Inc., among other large financial companies, are preparing to join a new London-based cryptocurrency derivatives trading platform as the market rebound has increased the appeal of digital currencies. The trading platform Global Futures and Options Ltd. (GFO-X) said on Monday that it has signed contracts with ABN Amro Clearing and market maker IMC, and is expected to launch in the first quarter of next year. GFO-X CEO Arnab Sen said that due to the rebound in the cryptocurrency market triggered by Trump's election, interest in this platform from financial companies has surged again. Since Trump was re-elected last month and made several crypto-supportive nominations for his upcoming government, the digital asset market has been rapidly rising. Investors expect that the new U.S. government will pass legislation supporting cryptocurrencies, eliminating many perceived barriers for large financial companies to further expand into this industry.(Bloomberg)