B2C2, a crypto liquidity provider and over-the-counter trader, said Wednesday it conducted its first transaction of a non-deliverable forward (NDF) – a type of financial contract that’s common in foreign-exchange markets – with trading firm QCP Capital.

These types of trades could help traditional financial institutions to enter the burgeoning cryptocurrency market, according to the press release from London-based B2C2 and Singapore-based QCP.

“Unlike a deliverable forward, an NDF provides exposure to the underlying asset without the need to take physical delivery,” the companies said. The underlying asset in the transaction was bitcoin (BTC), denominated in U.S. dollars. The amount of the transaction wasn’t disclosed.

The crypto NDF will provide exposure to cryptocurrencies through a standardized instrument that is widely traded in foreign exchange markets, often on emerging-markets trading desks, the statement said.

“QCP views NDFs as a gateway to crypto markets for traditional financial institutions, such as investment banks, that are currently unable to handle the underlying assets,” Darius Sit, a co-founder of QCP Capital, said in the press release.

Previously, traditional market participants have been able to gain exposure to bitcoin via the Grayscale Bitcoin Trust (GBTC) and regulated futures listed on the Chicago Mercantile Exchange. Last month, U.S. regulators approved a bitcoin futures-based exchange-traded fund (ETF). Grayscale is owned by Digital Currency Group, which is also CoinDesk’s parent company.

NDFs are popular in foreign exchange markets, especially for clients operating in countries with a non-convertible or partially convertible currency like the Indian rupee. Partial convertibility refers to the freedom to convert domestic currency into foreign currency and vice versa when a country limits how much of its currency can leave or enter the country in capital accounts.

The largest NDF markets are in the Chinese yuan, Indian rupee, South Korean won, New Taiwan dollar and Brazilian real, according to a report published by the Bank for International Settlements.

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