FTX will provide derivative trading for U.S customers

U.S arm of FTX exchange will provide crypto derivative trading by next year. Right now they are under discussion with regulators to allow for this service.

FTX is the second largest California based Bitcoin exchange in the world. And it provides crypto trading including derivative trading all over the world. But it’s services are limited to few offerings in the U.S. Because of the regulator’s restriction, FTX is offering only limited numbers of crypto services including spot trading in the U.S. now they are planning to start derivative trading for the U.S customers.

The president of the U.S. arm of FTX exchange talked to the business insider on this matter and claimed that they may start their services of “Derivative Trading” for their U.S based customers also. 

Right now, FTX is currently in negotiations with the Commodity Futures Trading Commission (CFTC) which regulates the U.S. derivatives market services in the U.S.

“Quite frankly, we could have or should have started a long time ago, but we’re definitely interested in going through the process and collaborating with the CFTC to be able to offer those products in the US.”

FTX exchange have full hope that they will get approval to offer their derivative services. And also they have full hope that they will bring derivatives for U.S users within the next year. 

It is worth of notice, most of the revenue that FTX is generating came from the derivative trading services. So clearly here they are not satisfied with the earnings in the U.S. Well here we may expect that they will get permission from CFTC to expand their business with derivatives. In the present time derivative is not limited to crypto exchanges, many fund management companies are looking to invest funds in futures based trading, so probably it will be easy for FTX to get approval.

Read also: El Salvador’s Former minister opposes Bitcoin law