Australian Fintech Eightcap Debuts CD20 CFD for Retail Traders

Financial derivatives supplier Eightcap is now providing a contract for distinction (CFD) based mostly on the CoinDesk 20 Index (CD20), which affords a weighted efficiency of the most important digital belongings.

The CD20 CFD is now accessible to merchants in each fiat and USDT pairs as an over-the-counter (OTC) derivatives product to retail merchants, based on an announcement on Monday.

CFDs are derivatives devices the place merchants and brokers trade the distinction in an asset’s worth on the opening and shutting of a contract.

The CD20 CFD will “bridge the gap between traditional finance and the digital asset space by delivering institutional-grade crypto index access within a robust, compliant framework,” Eightcap mentioned within the announcement.

Melbourne-based Eightcap holds regulatory licenses within the U.Okay., European Union (EU) and Bahamas, in addition to its native Australia.

Provision for regulated CFDs represents rising maturity within the crypto trade as they supply merchants with the kind of funding merchandise that they might acknowledge from the normal monetary (TradFi) world.