Don Wilson, founder specializing in high-frequency trading firm DRW, stated that the bitcoin trading volume of derivatives in Asia comparable to the United States that is very different from the markets of other financial instruments.
During the conference, CoinDesk Singapore Consensus 2018, don Wilson shared his observations of the trends in the cryptocurrency market, noting the high demand for bitcoin futures in Asia:
“If you look at data for bitcoin futures from CME and CBOE, you will see that the volume during trading hours in Asia, almost coincide with the hours in the United States, while similar foreign exchanges, even trading pairs with the Japanese yen, the volume in Asia is significantly lower,”
In August, the exchange CME also announced that average daily trading volume bitcoin futures grew by 93%, and the amount of open positions — 58% and now exceeds 2,400 contracts.
The company don Wilson, DRW, one of the first entered the stock market by launching the trading platform Cumberland in 2014, the year that the founder explained his belief in the potential of decentralized future:
“There is an argument about bitcoin as a store of value. But for me, the more interesting the usefulness of bitcoin. The ability to transfer value without the need of trust in the system is a breakthrough technology”
Last year the Wall Street Journal published evidence that trading volume from 2016 in the Cumberland exceeded $ 20 billion.
Also, according to legendary trader, rising custody services market will lead to a more widespread use of cryptocurrencies by financial institutions, while the largest limiting factor for the industry remains the lack of clear actions of the regulators:
“Such uncertainty could lead to the fact that the innovative projects will choose environment other jurisdictions with more transparent rules as Switzerland or Singapore”
Singapore in may introduced a regulatory project for decentralized exchanges, and in August it became known that the Central Bank and the stock exchange of Singapore building a blockchain-based platform for trading securities.
The Swiss authorities in March decided that the ICO will regulate according to the existing financial legislation, and are now planning to create their own national cryptocurrency, backed by the Swiss franc.