Crypto startup Tassat has received the green light from the US Commodity Futures Trading Commission to launch physically-settled bitcoin swaps, the regulator reported in an official announcement.
The company is reportedly working on the launch of physically-settled bitcoin swaps. Tassat representatives announced in July the company planned to launch "fully regulated" bitcoin swaps for US investors.
Although the launch date of this new investment instrument has not been disclosed, the firm has said it has been "actively incorporating institutional investors" and testing the product.
Tassat, formerly known as trueDigital, changed its name in September this year right before entering the derivatives trading and institutional payments markets.
The launch of these new bitcoin swaps will allow Tassat to compete with SeedCX, which in August started to test a similar product.
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