1. ТrueDigital Plans to Launch CFTC-Regulated Crypto Derivatives Exchange
2. Binance Officially Launches Margin Trading Service
1.ТrueDigital Plans to Launch CFTC-Regulated Crypto Derivatives Exchange.
New York-based financial technology firm trueDigital Holdings LLC is aiming to acquire the Designated Contract Market (DCM) and Swaps Execution Facility (SEF) registrations held by trueEX LLC in an offer to launch a completely-regulated crypto derivatives exchange, according to a press release published on July 12. 2019
TrueDigital also plans to list extra subsidiary instruments over time. The procurement expands on trueDigital’s system to build and convey institutional-grade digital asset products.
Thomas Kim, true Digital CEO said: “This securing reflects our goal to be the trusted choice for any institution that needs to trade novel digital asset subsidiary products through sophisticated infrastructure delivering the same regulatory framework that market participants require of any other asset class. A true Digital owned and operated regulated exchange is the natural step in our evolution toward achieving our goals. Adding the exchange to our ecosystem delivers a complete end-to-end offering, currently unavailable today, that encompasses tokenization, payments, market data and settlement for the benefit of our clients and partners.”
As Per the release, trueDigital has finished up an agreement in principle to secure the Designated Contract Market (DCM) and Swaps Execution Facility registrations of United States Commodity Futures Trading Commission (CFTC)-regulated exchange trueEX LLC. The deal thus is liable to CFTC approval.
In addition to building the first leveraged physically-deliverable Bitcoin derivatives for institutional investors, true Digital has built up the first OTC reference rate for Bitcoin and Ether comprised of bid-offer data from 12 institutional market makers. trueDigital also built the first blockchain-powered payments platforms affirmed by the NYDFS for a New York based commercial bank.
About trueDigital Holdings LLC
trueDigital Holdings, LLC, a New York-based global financial technology company, provides innovative solutions to financial markets utilizing blockchain-based technologies to enable frictionless asset transfer and settlement. trueDigital has also created the first-of-its-kind margined deliverable swap contracts on Bitcoin as well as the first institutional OTC-based digital asset reference rates.
2.Binance Officially Launches Margin Trading Service
Binance, the world’s largest cryptocurrency exchange (by adjusted/real trading volume), announced the official public launch of its Margin Trading service.
The new platform, called “Binance 2.0,” will have a newly improved interface that will empower access to both the exchange and the margin function so that traders only have to use one account. This will also enable users to transfer funds between the margin wallet and their primary Binance wallet with no transaction fees. Binance Margin provides the option to choose collaterals from a diverse spread of cryptocurrencies, also enabling users to pay for margin trading fees with Binance Coin (BNB).Users can currently trade bitcoin (BTC), ether (ETH), XRP, binance coin (BNB), tron (TRX) and tether (USDT).
