On June 9, the Singapore-based Delta Exchange launched interest rate swaps (IRS) – a contractual agreement between two parties to exchange interest rate payments over a set period of time. Usually, an IRS involves the exchange of floating rate and fixed-rate obligations (the parties do not exchange the principal amount). A floating interest rate is the one that moves up and down with the reference rate. In traditional finance, an interbank interest rate like Libor often serves as a reference rate in a swap. Delta’s interest rate swaps offer floating to fixed swaps using cryptocurrency exchange BitMEX’s bitcoin ... (full story)