Argentina’s securities regulator, the National Commission of Value (CNV), has approved the launch of a Bitcoin futures index on the Matba Rofex exchange.

Set to begin trading in May, the futures contract will be based on the price of BTC provided by entities in Argentina that offer BTC/ARS trading pairs.

All trades will be settled in Argentine pesos, and traders must deposit the national fiat currency through bank transfer. The regulated Bitcoin futures index will offer qualified investors a transparent and regulated environment to gain exposure to BTC, while also providing alerts to warn investors of associated risks.

With high inflation rates, many Argentinians have turned to Bitcoin to mitigate its effects. The country has taken a pro-crypto stance, with crypto adoption nearly double that of its neighboring countries.