Seed CX begins testing margin bitcoin swaps with physical delivery

Seed CX begins testing margin bitcoin swaps with physical delivery

Seed SEF, a subsidiary of the Seed CX cryptocurrency exchange, has begun testing marginal bitcoin swaps with physical delivery and plans to launch a new product “over the next three months”.

Testing of the new financial instrument will last all August, and if the results are positive, as well as it will be possible to get approval from the regulators, the product will be launched in the USA.

“We are partnering with the Commodity Futures Trading Commission (CFTC) and hope to be able to launch a new financial instrument over the next three months,” said Seed CX CEO Edward Woodford.

According to him, Seed SEF was the first in the United States to introduce a regulated financial instrument that allows traders to open margin positions and receive payments in bitcoins. In other similar products, payment is made in cash or they require full security.

The company also plans to add a combination of weekly and monthly contracts to the listing. Thus, the platform will constantly have four open weekly contracts, three monthly and two quarterly. Woodford believes that this is a unique approach that perfectly complements existing products on the market.

Read This Now:   Energy from Zaporizhia NPP did not arrive in the Kherson region due to damage to power lines

Seed SEF expects that the new financial instrument will be of interest primarily to institutional clients, such as hedge funds and mining pools.

At the end of July, the media reported that the LedgerX platform launched supplying bitcoin futures, but soon the CFTC forced the company to remove all references to it. The regulator said that LedgerX has not agreed to start trading in a new financial instrument.


Notice: ob_end_flush(): failed to send buffer of zlib output compression (1) in /home/gamefeve/bitcoinminershashrate.com/wp-includes/functions.php on line 5420

Notice: ob_end_flush(): failed to send buffer of zlib output compression (1) in /home/gamefeve/bitcoinminershashrate.com/wp-includes/functions.php on line 5420