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LedgerX Intends To Launch Bitcoin Futures Deliverable

12:03 16/04/2019
LedgerX Project Launches Bitcoin Futures

The LedgerX project, which supplies derivatives to digital currencies, for the first time among American companies intends to release bitcoin-based futures, the project's blog says.

 

Project representatives have announced plans to obtain a license from the CFTC regulator, which will allow LedgerX to become an approved derivatives market. Due to this, the company will also receive permission to launch deliverable bitcoin futures. Delivery futures differ from settlement futures in that they are secured by a reserve of physical cryptocurrencies, and not by the equivalent of a digital asset in US dollars.

 

In addition, the project intends to ensure the availability of the product for individual investors, and not only for institutional investors, Juthica Chou, operational director of the company, stated.

 

Upon completion of the necessary regulatory procedures, the company will launch the Omni online platform for trading futures and options. The developers have created a platform based on a functioning LedgerX system, including custodian and trading solutions.

 

The company sent a request for permission from the regulator in the late fall of 2018. The operational director of LedgerX noted that from the moment the application was submitted, negotiations between the representatives of the company and the regulatory body have continued. For this reason, developers do not undertake to make predictions about the possible date of new services activation. According to Chou, the company's application can be approved earlier than similar applications from competing Seed CX, Bakkt, and ErisX projects.

 

As previously reported, LedgerX announced the release of a derivative contract with unique properties for Bitcoin.

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