Torus Kling looks to launch India’s first crypto futures ETF in Gift City - Aliens: AI Crypto News & Markets Updates
Logo
Logo

Feed

Coins

About

Latest

Bitcoin

Ethereum

NFT

Gaming

Policy

Blockchain

Altcoins

Torus Kling looks to launch India’s first crypto futures ETF in Gift City

PublisherPublisher
Mint

Thu, Jan 13, 2022

Banner

Aliens TLDR

India INX will be the trading platform and Cosmea Financial Holdings will be the distributor, while Kling Trading will be the technology partner Listen to this article Torus Kling Blockchain IFSC, an equal joint venture between Sam Ghosh-promoted Cosmea Financial Holdings and Kling Trading India has signed a memorandum of understanding (MoU) with India INX to launch the country’s first bitcoin and ethereum futures exchange-traded funds (ETFs).

As per the MoU, India INX will be the trading platform and Cosmea Financial Holdings will be the distributor, while Kling Trading will be the technology partner.

India INX, BSE’s international arm, started trading activities on 16 January 2017 and is India’s first international exchange set up at the GIFT IFSC.

Exchange trade products allow trading through regular investment accounts, bypassing the hassle and security concerns of cryptocurrency Exchanges," said Krishna Mohan Meenavalli, CEO, Torus Kling Blockchain IFSC.

Torus Kling Blockchain is targeting $1 billion in asset under management (AUM) in the first two years from customers participating in blockchain-backed products through ETFs and discount certificates.

“India INX at GIFT IFSC is looking at exploring launch of digital asset-based products and has already made an application to IFSCA under regulatory sandbox.

While Sebi has blocked crypto-based funds to be Introduced in the Indian market, IFSCA regulates products in International Financial Services Centres (IFSCs) like Gift City.

“Bringing futures and launching crypto ETFs will attract a lot of LRS market into the Gift City because ETFs allow people to interact with the digital media digital assets," said Meenavalli.

Read full article on Aliens appRead from Original Source

The best experience is on the app

Everything happening in the crypto world, in real time

app

Recommended Stories

Article list item background

Algorithmic Stablecoin Resiliency More Important Than Growth: Vitalik Buterin

Vitalik Buterin has weighed in on algorithmic stablecoins, arguing that protocols should strive for resiliency above all else.
Crypto Briefing
·

2h

Altcoin

Recommended Stories

Article

Thailand excludes crypto transfers from VAT payments until 2024

Article

Goblins Flip Bored Apes in 24 Hours to Become the Top Collection

Article

Why Emerging Markets Are Leading the Charge on CBDCs

Article

Cryptocurrencies Are Missing Out as Stocks Rally

Article

XRP: How Ripple’s IPO speculation is triggering whale activity on the chain

Article

What's next for FTX’s proposal for crypto derivatives trading in the US?

Article

ARK and 21Shares make another attempt at a bitcoin etf approval

The best experience is on the app

Download app to discover exclusive content, live market updates and more.

Get smarter and richer with the Aliens Crypto Digest

Stay informed and entertained, for free.

Follow Aliens

Advertise