DeFi Technologies subsidiary Valour has acquired approval from the Frankfurt exchange market to list two new cryptos ETPs. The ETPs or the Exchange Traded Products are from Cardano and Polkadot blockchain. Valour will be starting the trading on the Boerse Frankfurt Zertifikate AG from this week. The company has recently issued a detailed press release as well.
The Valour ETP for Cardano is dubbed the (ADA) EUR. Meanwhile, the Valour ETP for Polkadot is named (DOT) EUR. Both new cryptocurrency ETP will track the market value of their respective blockchain tokens. The official trading session for both these new ETPs is going to start today. With the new development, commercial entities are likely to participate in the market.
DeFi Technologies claimed in the recent press conference that the company intends to keep expanding upon its cryptocurrency ETPs products. At the moment, there are many other ETPs tied to Bitcoin, Ethereum, Solana, and Uniswap tokens. According to the company officials, retail investors will find it easier to acquire shares with the new listings.
The trading experts have pointed out that the prospects for the Polkadot ETP have improved after the blockchain recently integrated Ethereum Virtual Machine or EVM protocol. On the other hand, the Cardano ETP traders will be looking forward to the listing due to its cheaper transaction fees and faster trading speed that put it head-to-head with the Ethereum network.
Tommy Fransson is the CEO at Valour, who recently briefed the media about the plans of the company. He pointed out that Cardano and Polkadot ETPs have already got listing approval in the Scandinavian region. He also claimed that the company is looking for more European exchange markets to welcome them.
Valour is a Switzerland-based enterprise that has the title of being the first-ever financial institution to introduce an ETP product of DEX UniSwap native token. Since last year, the AUM of the company has ballooned to $37 million with several crypto derivatives listed on Frankfurt and NGM stock exchange markets.