Reserve & CF Benchmarks Launch $LCAP, First Licensed Crypto Index Token on Kraken
Reserve, a platform for Decentralized Token Folios (DTFs), has partnered with CF Benchmarks, the UK FCA-regulated index supplier behind BlackRock’s Bitcoin ETF, to launch the Large Cap Index DTF ($LCAP).
The new token is the business’s first licensed, institutional-grade onchain index product and shall be out there for buying and selling on Kraken, one of many world’s largest cryptocurrency exchanges.
The $LCAP token gives buyers with diversified publicity to over 90% of the cryptocurrency market cap via a single, blockchain-native automobile.
The index consists of ten large-cap cryptocurrencies, amongst them Bitcoin, Ether, and XRP, benchmarked in opposition to CF Benchmarks’ Large Cap Index.
ETF-Like Simplicity with Onchain Execution
According to Reserve $LCAP is backed 1:1 by underlying property held in good contracts. The portfolio is rebalanced quarterly and redeemable for its underlying elements.
Thomas Mattimore, CEO of ABC Labs, a contributor to the Reserve ecosystem, explains the launch represents a step ahead in bringing conventional funding simplicity into crypto markets.
“$LCAP offers customers entry to roughly 90% of the overall cryptocurrency market cap in a decentralized, diversified index-based funding product that appears and seems like an ETF,” stated Mattimore.
The construction makes it attainable for each retail and institutional buyers to achieve broad crypto publicity in a regulated, clear, and liquid method.
Institutional-Grade Scale and Partnerships
$LCAP is supported by Reserve’s decentralized index infrastructure and executed in partnership with MEV Capital, a agency specializing in institutional-scale buying and selling.
“By monitoring our Large Cap Index, $LCAP will seamlessly ship diversified publicity to the biggest digital property via one tokenized automobile,” stated Sui Chung, CEO of CF Benchmarks.
Expanding Access to Decentralized Index Products
Reserve already oversees greater than $500 million in whole worth locked (TVL) throughout its suite of index and yield DTFs. These merchandise permit customers to earn onchain yield denominated in property comparable to ETH and USDC.
With $LCAP, Reserve is increasing its product providing to buyers searching for each diversification and institutional-grade safeguards.
The introduction of $LCAP on Kraken exhibits rising alignment between regulated benchmarks and tokenized funding merchandise. It additionally highlights the pattern of bringing ETF-like experiences to crypto markets, the place effectivity, accessibility, and decentralization intersect.
CME Group, CF Benchmarks Launch Internet Computer Indices
Last 12 months Chicago Mercantile Exchange (CME) Group and CF Benchmarks started offering new reference rates and real-time indices for Ripple (XRP) and Internet Computer (ICP).
According to a July 11 announcement made by the CME Group, CF Benchmarks will publish these new indices day by day to ship correct and dependable pricing data for Ripple and Internet Computer to a broad vary of market members.
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