Tokyo Financial Exchange prepares bitcoin futures

Tokyo Financial Exchange Inc. prepares to launch a bitcoin future product. Japan's leading financial exchange agency prepares to join among traditional financial institutions to support bitcoin products as a financial product to roll out future cryptocurrency derivative products.

Shoza Ohta, CEO of Tokyo Financial Exchange, said the company will create a working group to implement a crypto plan before listing a bitcoin futures contract which requires changes to state securities laws.

Tinuku Tokyo Financial Exchange prepares bitcoin futures

Japan is one of the largest bitcoin trading markets in the world. Ohta said it would soon include a bitcoin futures contract "as soon as possible" after the Financial Instruments and Exchange Act accommodates cryptocurrencies as a financial product.

The other major world trade is CBOE and CME Group has officially confirmed the launch of bitcoin futures contracts. The launch by CBOE has preceded CME. Nasdaq on Wall Street as the world's second largest stock market, also announced to activate the bitcoin futures trading in mid-2018.