FTX to Launch Perpetual Contracts on MVIS Products

The cryptocurrency derivatives exchange FTX announced the launch of perpetual contracts MVDA10 and MVDA25. Their underlying assets will be the MV Index Solutions indices for baskets of digital assets.

MVDA10 and MVDA25 will be quoted in U.S. dollars.

The parent company of MV Index Solutions is the investment firm VanEck.

MVIS CryptoCompare Digital Assets 10 Index and MVIS CryptoCompare Digital Assets 25 Index are market-capitalization-weighted indices of the most liquid cryptocurrencies. Rebalancing occurs monthly. Calculation values are provided by CryptoCompare.

\”This is another small step toward bridging the gap between digital assets and traditional finance\”, said FTX chief Sam Bankman-Fried.

According to the New York Times, FTX also reached an agreement with the esports team TSM to rebrand as TSM FTX. For this right, the derivatives exchange will pay $210 million—$21 million annually for the next ten years.

In May, media reported that FTX to attract up to $1 billion and raise its valuation to $20 billion.

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