bring approval On Monday, the US Commodity Futures Trading Commission (CFTC) granted a new player, the Bitnomial platform, to the world of Bitcoin futures, which is still a small market in the United States of America.

So far, only CME, Cboe, Bakkt, ErisX and LedgerX offer bitcoin futures and options, although Cboe terminated its contract in early 2019, and the ErisX platform manages a small volume of futures contracts.

Unlike CME, Bitnomial appears to focus strictly on physically settled contracts, which means that customers receive actual bitcoin when the contract expires, rather than the bitcoin equivalent in fiat currencies.

The Commodity Futures Trading Commission (CFTC) conducted a technical evaluation of the platform before granting approval, according to an order issued on Monday.

Read:4 facts you should know about the NEO network

A Bitnomial spokesperson said it was the first startup of its kind to receive approval to offer both margined and physical Bitcoin contracts in the United States, and the platform’s management stated in a press release that:

The approval allows Bitnomial to address a range of intergenerational shifts in the financial markets:

First, a new generation of customers is emerging as smart in trading, technology and delivery.

Secondly, new, unregulated and innovative derivatives are thriving with daily volumes of up to 45 [مليار دولار]may be illegal for many US traders.

The statement also said that Bitnomial hoped to find clients for what it called “new growth areas,” claiming that existing legacy companies had difficulty exploiting this base.

Bitnomial is now preparing a user acceptance test, expected to start on April 27, and opening up new user registrations.

In a statement, founder and CEO Luke Horsten said the company will start with quarterly futures contracts, futures contracts and mini options.

Physically settled bitcoin futures contracts remain largely inaccessible in much of the US market, Peter Johnson, a member of Jump Capital, said.

Bitnomial was backed by Jump Capital, along with Digital Currency Group, the parent company of CoinDesk.

Read:Visa launches NFT auction for FIFA World Cup Qatar…Details here

According to the press release, Peter Johnson said:

“Bitnomial” products are reliably linked to the price of the underlying asset via the option of physical delivery, we are pleased to partner with a company committed to meeting the highest regulatory standards and increasing access to crypto derivatives for US traders.

Bitnomial raised $7.5 million last December, according to the SEC.

Read also:

Learn the expressive story of a cryptocurrency trader who lost everything he owned!

Should digital currencies be stored on cryptocurrency exchanges?