According to information provided by CoinDeck, the LedgerX company created physically backed cryptocurrency contracts for the first time. The news of future Bitcoin contracts appeared while Intercontinental Exchange’s Bakkt and TD Ameritrade’s ErisX sought to resolve the issue.
To date, LedgerX is not only the first supplier of physical futures to bitcoins in the United States, but also the only one. Literally, the new concept offers the user to receive income from Bitcoin as soon as the contract expires. In a more traditional form of contract futures, it is assumed that the exchange takes place for a fiat dollar.
“Cash-settled futures contracts” have been offered by the Chicago stock exchanges since 2017, which will return to the client upon the expiration of the contract a cash equivalent of its value. However, the underlying commodity, which in this case is Bitcoin, traders receive only through physically concluded contact.
Thus, it is the LengerX platform that will be the first to offer users to receive contacts through purchases for BTC without using fiat and offer future contacts with physical-setteled calculation.