TrueDigital Wants To Offer Bitcoin Derivatives In The US By Acquiring DCM And SEF Registrations
A company focused on institutional digital investment, trueDigital Holdings, has recently announced to the media that it wants to offer Bitcoin (BTC) derivatives for investors based in the United States.
According to its press release, the firm has decided that the best way to do it was to acquire the swaps execution facility and the designated contracts market from another company called trueEX. At the moment, the company is waiting for the approval of the U. S. Commodity Futures Trading Commission (CFTC) in order to do it.
If the idea is successful, the company would be able to launch a new crypto derivative soon that could be fully regulated. After the launch of the first derivative products, others would follow in order to provide more options to the company’s clients.
Thomas Kim, the CEO of the company, affirmed that trueDigital owning and operating an exchange is basically the most natural step to the company. This will be very good for the ecosystem because it will help the company to deliver end-to-end services to the customers.
They will not only have the current services, which include tokenization, crypto payments and data but they will also be able to invest in crypto derivatives, a market that is bound to grow.
The current goal of the company is to have physically deliverable BTC swaps that can be sold to institutional investors. Kim also affirmed that this acquisition will reflect the fact that the company is creating a market that can be trusted by the investors.
In fact, the derivatives market has so many growth opportunities exactly because it is not very explored so far. TrueDigital would be one of the first companies to be able to do it. Only LedgerX is working in this area so far when it launched its own BTC derivatives back in 2017.
ErisX is the other company that is currently going for the derivatives market. As it is the case with trueDigital, the company is not currently
In related news, the company has also started a new partnership with the Signature Bank recently in order to start a digital payments platform.