Bitnomial receives CFTC approval to liquidate fully collateralized swap contracts and will launch prediction markets.
TL;DR
Bitnomial has received CFTC approval to liquidate fully collateralized swap contracts, allowing it to launch prediction markets focused on cryptocurrencies and economic events, with its clearing service expanding collateralized liquidity options.
According to ChainCatcher, crypto derivatives exchange Bitnomial has announced that it has received approval from the U.S. Commodity Futures Trading Commission (CFTC) to liquidate fully collateralized swap contracts, enabling it to offer prediction market services, currently focusing on cryptocurrencies and economic events.
In addition, the exchange’s clearing service, Bitnomial Clearinghouse, can provide a wider range of clearing services to its partners’ prediction markets, thereby gaining collateralized liquidity between the US dollar and cryptocurrencies.