BlockFills has partnered with Basis Capital Markets, an FCA-regulated affiliate, to offer both spot crypto assets and cash-settled contracts for difference (CFD).

BlockFills, one of the crypto industry’s fastest growing trading and financial technology providers, is looking to bring more investors into the market via its integration of digital assets CFDs (“contracts for differences”).

BlockFills adds cash-settled CFDs via front-end Phoenix

In an announcement on Monday, BlockFills said it would be offering the CFD product via its Software-as-a-Service (SaaS) solution Phoenix. The premier front-end platform that previously only supported spot crypto trading, is targeted for institutional investors.

According to the fintech firm, Phoenix will now support both spot crypto assets and cash-settled CFDs or the so-called perpetual futures.

Nick Hammer, the co-founder and CEO of the Chicago-based company, noted in a statement that the integration is key to a market that has long sought “a trading solution that combines deep liquidity in cash-settled crypto derivatives with a superior front end.” 

“The appeal of trading in volatile markets without the complexity of physical settlement has already generated large amounts of interest in our offering. We expect that trend to continue,” Hammer commented via a press release.

To offer the new product, BlockFills has partnered with Basis Capital Markets, the company’s FCA-regulated London-based affiliate. The institutional-focused platform will help bring the perpetual futures product to non-US institutions around the world.

The company says qualified clients will have access to deep crypto CFD liquidity, available 24/7 and with prices across multiple fiat currencies, including the US dollar, Euro, British Pound and Japanese yen.

BlockFills launched in 2018 and currently offers its digital asset technology to institutional clients in more than 50 countries. In February 2022, as CoinJournal reported, BlockFills and Nexo partnered in a deal aimed at extending prime brokerage services to leading cryptocurrency miners.

In June, the company announced the listing of CME Group crypto derivatives products.