Coinbase Won't Patent "BUIDL" Word

The most obvious reason for the withdrawal of the application was the criticism that Coinbase underwent on the web
20 December 2018   748

California-based Coinbase no longer claims a patent for the BUIDL trademark, it follows from the updated application status on the website of the United States Patent and Trademark Office.

As stated in the accompanying comment, the application was withdrawn at the request of the applicant.

The most obvious reason for the withdrawal of the application was the criticism that Coinbase underwent on social networks after it became aware of the company's plans to patent this term earlier this month.

The term “buidl”, popular in the cryptocurrency community, is derived from the word “build”. This word is formed by analogy with the term “hodl”, meaning long-term investment in digital assets. BUIDL implies the creation and development of new blockchain products, and not just storage of cryptoactive assets.

The application clarified that the term "BUIDL" refers to software using the SaaS model (software as a service), which provides the tools "to carry out transactions using virtual currency".

CFTC to Approve LedgerX's Deliverable BTC Futures

At the same time, another platforms such as Bakkt, ErisX and Seed CX still awaiting regulatory approval
26 June 2019   64

Cryptocurrency derivatives provider LedgerX LLC has received a license from the Authorized Derivatives Market (DCM) from the US Commodity Futures Trading Commission (CFTC), which will allow it to launch the country's first bitcoin futures.

Deliveries for deliverable futures are made in the underlying asset, not in fiat funds. Thus, LedgerX outstripped the Bakkt, ErisX and Seed CX platforms, which are still awaiting regulatory approval.

At the same time, LedgerX intends to launch the Omni platform for trading options, swaps, and bitcoin futures for retail investors, since at the moment it does not see enough interest from institutional market participants.

However, it should be added that some experts have already expressed fears that the nature of the license received will not allow LedgerX to provide margin tools to customers, and Bakkt should have such functionality.

Recall about the intentions to obtain the appropriate permission and overtake competitors LedgerX said in April.