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Tassat gets the green flag from CFTC for physically-settled Bitcoin swaps

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Vineet Chaudhary
Vineet Chaudhary
Vineet Chaudhary is a content writer with computer applications as his background field. His interests range from writing and photography to going out for trips and rides on weekends.

The U.S. Commodity Futures Trading Commission has always been a tough shell to crack, but surprisingly, another cryptocurrency startup has managed to do it. Tassat got the green light from the CFTC to become a Swap Execution Facility (SEF).

It looks like The U.S. Commodity Futures Trading Commission (CFTC) has been having some good days from the past few months as they have approved another crypto derivatives exchange to offer physically-settled Bitcoin swaps.

The Rebranding Magic

Tassat was previously known as trueDigital, and they changed the name in September as they moved in the derivatives trading and payments market. The approval for CFTC has helped the firm go ahead with its plans of launching a physically-settled Bitcoin margin swap.

The launch date for the product is not disclosed by the platform yet, but they did mention that the product is under testing and adding more institutional participants to the project.

The BTC Swap Wars

With the launch of its Bitcoin margin swaps product, Tassat will be in the neck to neck competition with SeedCX that is also testing a similar product that will be launched soon. LedgerX is another company that was registered in 2017 by CFTC as it permitted it to offer swaps and other products for its institutional clients.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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