Good Morning. We’ve hit another milestone here at BitOoda, as we executed our first Borrow/Lend deal earlier in the week. We believe our team is well suited to take on the task to learn and advance this space. Our network contains a vast array of players throughout the digital asset space, of which many different strategies and business uses cases are deployed where it makes sense we can help add value to our clients in finding them the best rates as well as the most secure and reliable counterparties to limit any credit risk.
As we have written about over the past year, our focus lies in derivatives and structured products. We have been observing the CME Bitcoin futures curve as volumes have steadily grown, and even written about how the futures curve can act as a proxy for the Borrow/lend market. To us, it makes perfect sense that if we are serving our clients in the capacity of an introducing broker, executing CME or Bakkt listed futures (and hopefully soon options), then we should also have a good grasp on the borrow/lend market, also being able to serve our clients in execution repo deals.
As part of our morning daily reports, we will start posting more data on CME Futures, as well as borrow/lend rates, as we are of the view that these two markets separate markets can be looked at in a similar light.