The swap execution facility of cryptocurrency exchange Seed CX, Seed SEF, has started user acceptance testing of its physically-settled bitcoin margin swaps, a type of derivative contract in which two parties typically trade a financial instrument over-the-counter and with customized features.
According to the business unit testing will run through August and will launch if it gets successful results from the test as well as U.S. regulatory approval for the launch.
Edward Woodford Founder and CEO reveals that they are closely working with the U.S. Commodity Futures Trading Commission and hope to launch the product publicly within the next three months.
Woodford claims it will be the first platform to test physically-settled bitcoin margin swaps which means it will allow traders to enter into a leveraged position to buy or sell bitcoin for physical delivery on a later date.
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