TeraExchange Launches a Swap Based on the Bitcoin - this is one of extraordinary decisions for Bitcoin users
16 September 2014, 09:11
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TeraExchange has launched a swap based on the
Bitcoin. By launching the swap offer, the company has become the
first to receive approval from a US federal regulator for a financial
product based on the budding technology. This is one of the
extraordinary decisions by the company for Bitcoin users.
Christian Martin, the head of TeraExchange says that for a merchant to take Bitcoin there was not until this product a regulated way for them to put on a hedge to manage the risk and now with this product they can.
TeraExchange signed up some 50 clients
Also, it has constructed an index to gauge the value of Bitcoin that the CFTC was satisfied could not easily be manipulated – this can be the best feature for traders. Also, as the Tera Bitcoin Price Index was based on information from six different exchanges, the company said, a number it expected to grow.
Thus, according to the company the swap which is available to trade from Friday morning is going to help the clients to great extent as they are going to get competitive services. Also, the company would now start marketing it to the new clients who wish to explore it. The company has received commitments from market makers, companies that offer prices for buyers and sellers to facilitate Bitcoin trading.
Christian Martin, the head of TeraExchange says that for a merchant to take Bitcoin there was not until this product a regulated way for them to put on a hedge to manage the risk and now with this product they can.
TeraExchange signed up some 50 clients
Also, it has constructed an index to gauge the value of Bitcoin that the CFTC was satisfied could not easily be manipulated – this can be the best feature for traders. Also, as the Tera Bitcoin Price Index was based on information from six different exchanges, the company said, a number it expected to grow.
Thus, according to the company the swap which is available to trade from Friday morning is going to help the clients to great extent as they are going to get competitive services. Also, the company would now start marketing it to the new clients who wish to explore it. The company has received commitments from market makers, companies that offer prices for buyers and sellers to facilitate Bitcoin trading.
