Tassat Derivatives has successfully acquired an SEF (Swap Execution Facility) registration after obtaining regulatory approval.
The Commodity Futures Trading Commission (CFTC) of the United States announced Thursday it has approved the transfer of a SEF registration of trueEX LLC to Tassat on November 6, nearly four months after the conclusion of an "agreement to principle "by TrueEx. registration in January 2016.
In July, Tassat, formerly known as trueDigital Holdings, wanted to launch a "fully regulated" cryptocurrency derivatives exchange in the United States, on which it would offer customers exchanges of physically delivered bitcoins and other products. .
Thomas Kim, CEO of Tassat, said at the time: "The addition of the stock market to our ecosystem provides a complete end-to-end offer, currently unavailable, which includes tokenization, payments, data market and regulation for the benefit of our customers and partners ".
"TrueEX and Tassat have satisfied the SEF registration transfer requirement by demonstrating that Tassat will be in compliance with the provisions of the Commodity Exchange Act and the regulations of the TCRC applicable to SEF funds after the transfer of the recording. There are currently 19 registered FES, including Tassat, "said Wednesday's press release.
Tassat, created early 2018, actively participates in the cryptographic community. The company helped Signature Bank set up its Signet blockchain payment platform, launched last December. More recently, the company has partnered with the AlgoTrader software provider to provide institutional clients with access to its future cryptographic derivatives.
The company also partners with Inca Digital Securities and Kaiko to provide broader access to its over-the-counter bitcoin and over-the-counter rates.
With Wednesday's approval, Tassat is on the cusp of offering customers a trading platform for its products. The company is still waiting for the registration of trueEX in the designated markets market (DCM).
The company seeks to compete with LedgerX, Bakkt / Intercontinental Exchange, Seed CX and ErisX by seeking to offer physically resolved bitcoin derivatives to US customers.
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