Crypto-derivative platform LedgerX expects to be the first in US to launch BTC-futures contracts with physical asset delivery.
On Monday, the company announced it would apply for a licensed Designated Contract Market (DCM), which would allow it to offer futures similar to those planned to launch on the platform of NY stock exchange operator Bakkt.
According to LedgerX Operations Director Jutiki Chow, access to the tool will be provided not only to institutionals, but also to retail investors.
“We will be able to serve customers of any level, without restrictions,” – she said.
LedgerX BTC-futures will be launched on the Omni platform, which is based on the company’s existing infrastructure, suitable for storing and trading assets. The original LedgerX platform received regulatory approval in July 2017.
The company issued the license application for listing futures contracts in November 2018 and since then has been in a “constructive dialogue” with US Commodity Futures Trading Commission (CFTC).
Today, LedgerX provides to its institutional clients (there are more than 200 of them now) adjustable BTC-swaps with physical asset delivery and optional products. A number of companies are also planning to launch their own deliverable BTC-futures, including Bakkt, Seed CX and ErisX, but they all have to wait for approval by the regulator.
“This is a natural development. It stems from the fact that we serve the supply market for more than one and a half years. We are always happy to be the first,” – added Chow.