CMC Adds Polygon and Solana

CMC Adds Polygon and Solana

The move to add two new coins to its crypto suite follows on the heels of strong customer demand.

CMC Markets expanded its crypto offering this month with the addition of stable coins Polygopn and Solana, taking the offering to a total of 18 major and alt coins, along with three crypto indices.

Speaking to Richard Elston, Group Head of Institutional at CMC Markets Connect, he explained “we‘re always keen to add new coins to meet customer demand and that’s very much what drove the addition of these two instruments. However, our own internal processes, along with the need to custody and hedge these positions with tier one regulated entities does make the process of adding coins rather more challenging than we see in other asset classes.”

Whilst CMC Markets in unable to offer digital assets to UK retail customers, the company noted that demand is strong and rising amongst other institutions who are looking for an efficient way of gaining exposure to cryptos, but need to do so through a fully regulated counterparty.

About CMC Markets Connect

CMC Markets Connect – the rebranded institutional offering which launched at the start of the year – continues to add to its tradable universe with a total of almost 12,000 FX pairs, indices, treasuries, commodities, single stocks, cryptos and ETFs now on offer.