LedgerX to be the 1st U.S. federally regulated exchange

LedgerX becomes the first U.S. federally regulated exchange and clearing house for digital currency derivatives
25 July 2017   2170
Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks

The U.S. Commodity Futures Trading Commission (CFTC) has given permission to the New York-based institutional trading and clearing platform for digital currencies LedgerX to exchange and clear any number of cryptocurrency derivatives.

Bitcoin

Is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen

After three years of work, the company was granted a rare derivatives clearing organization (DCO) license, which allows to clear and custody financial instruments backed by Bitcoin, Ethereum and other blockchain-based cryptocurrencies. In fact, initially, LedgerX anticipates listing one to six-month options contracts for BTC. Other digital currency contracts such as ETH, are expected to follow.

 
Ethereum

Is an open-source blockchain-based distributed computing platform featuring smart contract functionality, which facilitates online contractual agreements 

LedgerX will provide the surveillance and transparency institutional investors require. Eligible participants in the LedgerX venue will include registered broker dealers, banks, futures commission merchants, qualified commodity pool entities and qualified high net worth investors.

We are seeing strong demand from institutions that previously could not participate in the bitcoin market due to compliance restrictions against unregulated venues. In particular, there is a desire for fund managers to hold financial instruments that are not correlated with the broader equity market, and digital currencies meet that need.
 

Paul L. Chou
CEO of LedgerX

Gary DeWaal, of Katten Muchin Rosenman LLP, who assisted LedgerX during its CFTC application process, also commented on the approval claiming that LedgerX’s registration is a historic milestone for derivatives and for digital currencies. To him, "it is equivalent to the launch of currency futures back in 1972 that heralded the beginning of exchange-traded and cleared derivatives based on financial products.” 

Switcheo to Launch Cross-Chain ETH-NEO Atomic Swaps

Developers says that the technology of atomic swaps has been known for few years, but is not popular, since its implementation in practice is quite complicated
25 April 2019   59

Switcheo announced the official launch of the atomic swaps feature for the Ethereum and NEO blockchains.

From now on, Switcheo users have access to the inter-block exchange of their own token exchange, SWTH and ETH, which allows for the transfer of assets between two markets represented on the trading platform and makes Switcheo the first decentralized exchange that implements this functionality.

A challenge with existing trustless exchanges is that trades are confined to individual blockchains, limiting the market combinations that can be offered to users” says . With the launch of the new feature, users can now trade conveniently between ETH and NEO markets, while retaining full custody of their funds.
 

Ivan Poon

CEO, Switcheo

According to the developers, the technology of atomic swaps has been known for several years, but is not widely used, since its implementation in practice is quite problematic. Switcheo lead developer John Wong explained that his team spent a lot of time adapting the process to the user's needs and achieved the desired result.