BTSE has announced its long-awaited Monero (XMR) futures trading, making it one of the only cryptocurrency platforms to allow users to purchase, sell long or short one of the most popular privacy coins on the market.
Monero was developed in 2014 and the Monero protocol ensures that the source, destination and amount of funds transacted are masked. This has made the coin an ideal tool for those wishing to protect their financial privacy by stopping even the most sophisticated of blockchain analysis from unveiling the trader.
BTSE’s CEO Jonathan Leong said: We believe that privacy is one of the most important tenets of a strong digital currency. In listing Monero, we hope not only to provide our users with more choice when it comes to their trading needs, but to spark a conversation on how to list privacy coins in a regulatorily-compliant fashion.
Cryptocurrencies such as Monero present a tremendous opportunity for financial liberation and inclusion. We feel that our role in the ecosystem will allow us to provide governmental bodies with a fair assessment of the best practices for listing such assets
The fact that XMR is so private makes exchanges worries. They often do not like to work with the coin as it can be used without the user being tracked. This development is exciting and this could mean other coins could be opened up to trade in other exchanges.