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Crypto derivatives offer for US investors pending approval

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Sun, 14 Jul 2019, 12:59 pm UTC

More Bitcoin derivatives, as well as that of other crypto coins, might soon become available if the efforts by trueDigital Holdings pulls through. As a digital assets management firm, what it wants to accomplish is gain the approval of the U.S. Commodity Futures Trading Commission (CFTC). This is for the sake of acquiring registrations for a designated contract market (DCM) and swaps execution facility (SEF).

The firm put out a press release discussing the matter, where details about its plans to offer crypto derivatives were explained. Bitcoin will be the first item on the table, but if approval is reached, more coins could follow. CEO of trueDigital, Thomas Kim provided is thoughts on the matter, as well.

“This acquisition reflects our goal to be the trusted choice for any institution that wants to trade novel digital asset derivative products through sophisticated infrastructure delivering the same regulatory framework that market participants require of any other asset class,” Kim said.

“A trueDigital owned and operated regulated exchange is the natural step in our evolution toward achieving our goals. Adding the exchange to our ecosystem delivers a complete end-to-end offering, currently unavailable today, that encompasses tokenization, payments, market data and settlement for the benefit of our clients and partners.”

As of now, the CFTC is still pending on approving the registration, Coindesk reports. If it proves successful, however, it could mean that more crypto derivatives that are regulated and certified will become available for investors in the US.

Very few other firms are providing such services to investors in the country, with LedgerX being one of the most well-known entities to do so. The success of this particular initiative could also spur other investment firms to start looking into crypto derivatives. The fact that more regulations are being introduced with regards to the crypto industry makes such an outcome more promising.

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