LedgerX became the first American firm to offer Bitcoin futures contracts on real terms in the blockchain, thus beating Bakkt.
The company launched the OMNI platform last week and has already provided access to it for both institutional and retail investors. You can buy contracts for US dollars or bitcoins. At the same time, bitcoins can also be used as collateral, which will eliminate the need to wait for the processing of deposits by the banking system and other restrictions.
The cryptocurrency community and representatives of traditional financial markets expected to see deliveries from the Bakkt platform, but LedgerX was ahead of it. At the same time LedgerX has licenses to work as a futures exchange (DCM) and for clearing cryptocurrency derivatives (DCO). According to experts, this means that the company will not be able to provide the opportunity to trade with leverage, because contracts must have full security.
LedgerX was founded in 2014, and in 2017 the company began offering options and bitcoin swaps with a physical supply of an asset to institutional investors. Applications for licenses DCM and DCO LedgerX filed in November last year. LedgerX and Bakkt have a common competitor – ErisX platform sponsored by TD Ameritrade, which also has a CFTC license to provide similar products, but their launch date is not yet known.