Cryptocurrency derivatives provider LedgerX successfully realized its intention to become the first American company to launch Bitcoin futures. It is reported by CoinDesk .

The launch of the new instrument took place today, July 31, after which US residents – both institutional and retail investors – were able to trade options and futures on their own LedgerX platform called Omni . Omni is based on the company's existing infrastructure, which includes trading and custodial services.

As the head of the company, Paul Chow, noted, LedgerX was the first organization in the United States to offer precisely deliverable futures. This means that at the expiration of contracts, traders receive real Bitcoins, not Fiat.

In addition, contracts can also be acquired using cryptocurrency, which saves customers from having to wait for a bank transfer, as well as eliminates other restrictions inherent in the traditional banking system.

“Bitcoin as a digital product trades around the clock and seven days a week, and this is exactly what our customers expect. If you want to trade on Sunday, you no longer need the banking system, ”said Paul Chow.

Recall about the intention to obtain a license of the Commission for urgent exchange trading of the United States (CFTC), which will make the company an authorized market for derivatives (Designated Contract Markets) and will provide an opportunity to launch deliverable futures, representatives of LedgerX reported in April. The application was approved in June.

On July 22, testing of bitcoin deliverable futures started on the Bakkt platform, but the full launch of the instrument is expected before the end of September. In addition, in July, the CFTC permission to provide services as a clearing center for derivatives (DCO) received the Chicago exchange of cryptocurrency derivatives ErisX.

Earlier in July, LedgerX added a call option to the listing, which will allow holders to purchase Bitcoin for $ 100,000 in December 2020.

Follow BlockchainJournal on Twitter !