The Bitcoin Futures Index has been approved by the National Commission of Values of Argentina (CNV) as part of their strategic innovation program, marking a significant step forward for the country’s financial sector.
This new futures index is set to be the first of its kind in Latin America and is expected to launch on the Matba Rofex exchange next month.
The BTC/ARS pair will be traded on various Argentinean sites, providing price flows for the index.
To trade on the exchange, traders will need to deposit fiat currency, specifically Argentine pesos, via bank transfers.
However, only qualified investors will have access to this new product, and the Matba Rofex exchange has been instructed to issue warnings about the potential risks of cryptocurrency financial instruments.
To launch similar indices on other sites in Argentina, a licensed status will be necessary.
The demand for bitcoin and other cryptocurrencies in Argentina is currently high, as investors look to protect themselves from inflation and make a profit.
This has resulted in the volume of P2P transfers doubling in the fourth quarter of last year, reaching a new record.
As a result, Argentina is now the leading country in Latin America in terms of cryptocurrency penetration.