The project has the backing of investors such as Tim Draper and ex-PayPal, David Marcus.
It seeks to position bitcoin as a global unit of account, beyond its role as a store of value.
This Monday, October 20, Roxom, the stock exchange that uses bitcoin (BTC) as its native currency and unit of account, was officially launched worldwide.
The platform, co-founded by Argentines Borja Martel Seward and Nicholas Damico, allows for the first time to trade perpetual futures of traditional assets such as the S&P 500 index and gold, settled directly in bitcoin and without the need to use fiat currencies.
In this first stage, Roxom offers perpetual derivatives on the S&P 500 and Nasdaq-100 indices, as well as commodities such as gold and WTI oil. This allows investors to take long (buy) or short (sell) positions in these markets using only their bitcoin holdings.
“By introducing Bitcoin-denominated benchmarks, we are creating a neutral, transparent and global standard,” declared Borja Martel Seward, co-founder of the company.
The launch materializes the proposal that CriptoNoticias reported in July 2024, when the project was presented with the support of investors such as Tim Draper and David Marcus. Roxom’s mission is to build the financial architecture that connects bitcoin to traditional finance, in a 24/7 operating market.
From the perspective of its creators, the development of a capital market denominated in bitcoin is the next step in the evolution of the digital asset, going from being a store of value to an institutional unit of account.
The main milestone of the platform is to facilitate the flow of capital between different asset classes without the friction and intermediation of government-issued currencies.