LedgerX has successfully become the first US-based company that launched physically-settled bitcoin futures.
According to the reports, the company launched its new product on July 31. Once the platform called Omni comes on stream, US-based institutional and retail traders have become able to trade options and futures.
For reference, the Omni platform is based on the company's infrastructure, including trading and custody services.
LedgerX CEO Paul Chou highlighted that the new instrument will propel LedgerX to the leading position in the USA making it the first American company that offer such type of futures. In particular, traders will get real bitcoins rather than fiats once the contract expires.
Moreover, contracts can be acquired via cryptos which also makes transactions easier and faster, since clients will not have to wait for bank transfer.
In June, Ledgerx got the license of the designated contract market from the US Commodity Futures Trading Commission. The application for the license had been filed on April 2019.
Along with LedgerX, ICE's Bakkt platform commenced bitcoin futures trials in late July. However, the product is expected to become 100% operational by late September.