Cboe Clear Europe has received regulatory approval to expand its clearing services to include exchange-traded products (ETPs) backed by cryptocurrencies. The company announced it will now begin working with venues that list these products and intends to share go-live dates in due course, reports Markets Media.
The ETPs eligible for clearing must meet specific criteria based on market capitalisation, underlying asset availability, and product type. Among the supported underlying assets are Bitcoin, Ethereum, Tether, XRP, and BNB.
Vikesh Patel, President of Cboe Clear Europe, stated: “We are excited to broaden our clearing capabilities to encompass crypto-backed ETPs, marking another milestone in our mission to become a leading multi-asset class CCP in Europe.
Further details on the timeline and implementation of the clearing service are expected as the company engages with listing venues.
