Coindesk and NYSE launch financial products

A new partnership between Coindesk and the NYSE aims to facilitate options trading on Bitcoin. Here's what's behind it.

The New York Stock Exchange (NYSE) and Coindesk are entering into a partnership. Together, they plan to offer options on Bitcoin going to offer. This is evident from a press release.

The issuer is the New York Stock Exchange. The trading center relies on Coindesk's Bitcoin Price Index (XBX), which is the longest operating Bitcoin spot index, to determine prices.

According to the statement, other financial products are also planned.

However, the launch will take some time. So far, this is only a letter of intent from the two companies. Finally, the SEC has yet to give the project the green light. The latter, however, is only a "formality."

Once approved by the regulator, "these options contracts will provide investors with access to important liquid and transparent risk management tools," said Jon Herrick, NYSE Chief Product Officer.

The partnership with the NYSE is exciting because since the acquisition of Coindesk by crypto exchange Bullish, the medium appears to be expanding its financial data delivery business.