Cryptocurrency derivatives provider LedgerX plans to become the first company in the United States to launch Bitcoin futures deliveries. It is reported by CoinDesk .
Today, April 15, the company announced its intention to obtain a CFTC license, which will make LedgerX an authorized derivatives market ( Designated Contract Markets ). This, in particular, will provide an opportunity to launch deliverable futures. The latter differ from the calculated ones in that they are based on a physical cryptocurrency, and not its dollar equivalent.
In addition, LedgerX plans to make the new product available to retail investors.
“We will be able to serve any customers, we will not be limited to institutional ones ,” said operational director of the exchange, Jutik Chow.
After receiving approval from the regulator, LedgerX retail customers will be able to trade options and futures on the new platform called Omni. The latter is based on the existing infrastructure of the company, which includes trading and custodial services.
LedgerX applied for a CFTC license in November 2018. According to Chow, “constructive dialogue” has been ongoing since the regulator. For the time being, the company finds it difficult to designate approximate dates for launching new products.
However, according to Chou, there is every chance that the CFTC will approve the application LedgerX before its competitors in the face of Bakkt , Seed CX and supported by TD Ameritrade broker startup ErisX .
"We are always happy to be the first ," Chow said.
Recall that in February LedgerX introduced a binary option for halving Bitcoin .
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