Blackmoon Partners With Rivver To Create A New Crypto-Backed Exchange-Traded Index (ETx)
Blackmoon Joins Hands With Rivver To Create A Crypto-Backed Exchange-Traded Index (ETx)
A blockchain-based fintech firm, Blackmoon, has collaborated with Rivver to introduce a cryptocurrency-backed exchange-traded index (ETx). The two companies are focusing on solving the problem of liquidity in the crypto space.
Blackmoon and Rivver believe that market liquidity is important when it comes to defining risks on the investor side and success on the issuer side.
Speaking about this development, the CEO or Rivver David Benizri, said that:
“We are very excited to be collaborating with Blackmoon. Blackmoon’s innovative ETx approach is unique and necessary for the digitized securities ecosystem and we are very happy to be able to offer this added value to our clients.”
The CEO of Blackmoon, on the other hand, also had kind words to say about the collaboration, saying that both companies share a common goal. In his own words, he said that:
“Blackmoon and Rivver share a vision and it’s because of this that we are pleased to have discovered such an incredible organization to associate with. We are eager to release the Rivver ETx products as soon as possible to offer this amazing investment opportunity to eligible investors globally.”
Incentivize Trades To Take Risks
According to a press release, the Blackmoon-issued ETx is expected to incentivize cryptocurrency enthusiasts and traded to take risks by giving them a fungible financial product to arbitrage for profit. This way the investors can have a more stable and balanced price for a particular cryptocurrency.
Blackmoon, a Cyprus-registered company, entered the U.S. market in November last year, launching a private coin offering. In December the company also moved ahead to launch Binance ETx, a new asset token, which is directly linked to the most traded cryptocurrencies on Binance, one of the biggest cryptocurrency exchanges.