StoneX Executes First BTC Cash-Settled Swap

StoneX announced the successful execution of its first cash-settled BTC/USD swap.

The counterparty to the trade was Liquidity Solutions Global, a London-based subsidiary of DriveWealth Holdings and a liquidity provider to multiple cryptocurrency exchanges. USD cash-settled crypto swaps are now available to institutional FX clients.

The institutional FX division of a leading global financial services firm has announced that it is now offering USD cash-settled crypto swaps to its institutional FX clients.

The new product adds to the company’s existing institutional FX services, such as more than 40 currency trading pairs covering both major and emerging market currencies, forwards, non-deliverable forwards, and options.

According to Eric Donovan, the Global Head of Institutional FX, Investors need to connect to digital assets markets through a trusted partner that can secure the best execution and satisfy their compliance and custody needs. According to Eric Donovan, the Global Head of Institutional FX. Clients may access the market movement of underlying digital assets without taking physical custody when they trade cash-settled derivatives.

StoneX Revenues

StoneX Group, a London-based financial services company, has reported a 46% yearly jump in its total revenue. This is the company’s second quarter of fiscal 2022. The total revenue came in at $16.38 billion compared to the previous year’s $11.24 billion.

The firm said the higher income was due to its growing business activities. StoneX offers execution, post-trade settlement, clearing, and custody services to 52,000 commercial, institutional, and global payments clients and 370,000 retail customers through its Forex.com and City Index brands.