FRNT Financial Inc (‘FRNT’), an institutionally focused fiat-settled cryptocurrency derivatives platform, have agreed to terms in a financing round lead by entrepreneur Calvin Ayre, founder of Ayre Group, CoinGeek and a major supporter of Bitcoin SV (BSV). The company offers a unique derivative type which the firm refers to as Synthetic Exposure Mechanisms (‘SEMs’).
FRNT has built out a platform that, when launched, will be offering the most diverse set of derivatives for those investors wishing to participate in the crypto markets but needing to settle in traditional fiat systems. Within their suite of products, FRNT will be offering the first fiat-settled BSV derivatives.
“While the Chicago Mercantile Exchange’s BTC Future has demonstrated success, the fiat-settled crypto derivatives offering for institutional investors has otherwise been all but non-existent. This has been one of the main blockers to this massive amount of investment capital remaining on the sidelines as cryptoassets fit into few Offering Memorandums and are outside the operational scope of most traditional asset managers. The Ayre Group clearly sees the significant economic opportunity presented by our platform. Furthermore, the BSV community are extremely confident in their protocol and believe it is to their benefit to help a neutral platform grow so more sophisticated investors can express their negative or positive views on a variety of currencies and bring more efficient, logical pricing to the space,” said FRNT’s CEO Stéphane Ouellette.
In addition to BSV derivatives, FRNT’s early roadmap will include many ‘firsts’ among fiat-settled crypto derivatives including: a variety of single-coin indices, composite index products, themed index products and spread index products that will allow a unique way for institutional investors to capitalize on inefficiencies throughout the ecosystem. The platform will be supported by high-value sales lead by the firm’s ‘24-Hours In Crypto’ daily investor note which is one of the most highly-regarded institutional products in the space.
FRNT’s CEO Stéphane Ouellette recently spoke at the CoinGeek Toronto conference on May 30 alongside nChain CEO David Washburn and Centbee CEO & Co-Founder Angus Brown on the topic of integrating incumbent financial institutions into cryptocurrency. Among a variety of topics it was concluded that massive-scaling, which can currently only be supported by BSV, was necessary for existing on-chain use cases in institutional financial services.
CoinGeek founder Calvin Ayre commented: “Bitcoin SV is the only blockchain project massively scaling to support the needs of financial institutions and major global enterprises. FRNT Financial recognizes the power of creating financial products on BSV, and I am pleased to support its growth.”
Ayre’s investment is part of a broader collaboration between DRIVE and the Bitcoin SV ecosystem. nChain, the global leader in advisory, research, and development of blockchain technologies, will support FRNT with its technical consulting services and access to its vast intellectual property portfolio. Along with Ayre’s CoinGeek operations, nChain is another key backer of Bitcoin SV.
Jimmy Nguyen, Founding President of the Bitcoin Association (which advances Bitcoin SV’s global business ecosystem) and Chair of nChain’s Strategic Advisory Board, remarked:
“We welcome FRNT Financial to the Bitcoin SV ecosystem, further demonstrating that BSV’s big blocks support big business. FRNT Financial also appreciates the value of a regulation-friendly environment, which BSV provides. BSV is on the rise, and we invite more companies to build their products and applications on the only massively scalable blockchain – Bitcoin SV.”
For FRNT Financial enquiries: [email protected]
For Calvin Ayre and Ayre Group media enquiries: Ed Pownall at [email protected]
For nChain media enquiries: [email protected]