LedgerX to Launch Physical Bitcoin Futures

Additionally, LedgerX plans to make the new product available to retail investors
16 April 2019   851

Cryptocurrency derivatives provider LedgerX plans to become the first company in the United States to launch Bitcoin futures deliveries. It is reported by CoinDesk.

April 15, the company announced its intention to obtain a CFTC license, which will make LedgerX an authorized derivatives market (Designated Contract Markets). This, in particular, will provide an opportunity to launch deliverable futures. The latter differ from the calculated ones in that they are based on a physical cryptocurrency, and not its dollar equivalent.

In addition, LedgerX plans to make the new product available to retail investors.

We’ll be able to service customers of any size, we won’t be restricted to [institutional clients].
 

Juthica Chou

Chief risk and operating officer, LedgerX

After receiving approval from the regulator, LedgerX retail customers will be able to trade options and futures on the new platform called Omni. The latter is based on the existing infrastructure of the company, which includes trading and custodial services.

LedgerX applied for a CFTC license in November 2018. According to Chou, “constructive dialogue” has been ongoing since the regulator. For the time being, the company finds it difficult to designate approximate dates for launching new products.

However, according to Chou, there is every chance that the CFTC will approve the application LedgerX before its competitors in the face of Bakkt, Seed CX and supported by TD Ameritrade broker startup ErisX.

This is a natural evolution and it stems from the fact that we’ve been operating a physically settled market for more than a year and a half so it’s been a natural [extension]. We’re always excited to be the first.
 

Juthica Chou

Chief risk and operating officer, LedgerX

In February, LedgerX introduced a binary option for bitcoin halving.

Monex Online Broker to Reward Shareholders With BTC

Crypto will not be received by all shareholders as an additional interest, but only those who have an account on the Coincheck
23 March 2020   257

The Japanese brokerage company Monex Group has announced that it will pay shareholders a small amount in bitcoins as an additional interest at the end of the fiscal year.

Cryptocurrency will not be received by all shareholders of the online broker, but only those who have an account on the Coincheck bitcoin exchange. In addition to the regular payments for the year, these shareholders will receive 500 yen (about $ 4.54) in bitcoins. The fiscal year in Japan ends March 31.

The company acquired Coincheck for $ 33.6 million in 2018, when the platform experienced serious financial difficulties after a massive $ 530 million hack. With the new owner, Coincheck received a license from Japan's financial regulator in January last year. Later, the exchange launched a platform for OTC cryptocurrency trading and announced a platform for conducting IEO.