Bitnomial has launched the first CFTC-regulated futures for XRP in the U.S., enhancing market integrity and transparency. The contracts are physically settled in XRP, linking futures trading to actual supply and demand. Bitnomial has also dismissed its lawsuit against the SEC, emphasizing the importance of regulatory clarity in the digital asset market.

The first regulated XRP futures in the United States have officially launched, marking a significant milestone for the cryptocurrency market. Bitnomial, a digital asset derivatives exchange, announced on March 20 that it has introduced the first-ever futures contract for XRP that is regulated by the U.S. Commodity Futures Trading Commission (CFTC). These futures provide a compliant and transparent method for traders to gain exposure to XRP.

The new XRP US Dollar Myra (XRUY) Futures are designed to enhance market integrity through physical settlement in actual XRP rather than cash transactions. This method allows for a more accurate price discovery process by directly connecting futures trading with the real supply and demand dynamics of XRP.

In conjunction with the product launch, Bitnomial Exchange, LLC has voluntarily dismissed its lawsuit against the U.S. Securities and Exchange Commission (SEC), filed in October 2024. Bitnomial noted the importance of regulatory certainty in fostering innovation as the SEC’s evolving stance on cryptocurrency assets provides more clarity.

The company has expanded its portfolio of physically settled futures to include contracts on other cryptocurrencies such as solana, avalanche, and bitcoin cash. These contracts differentiate themselves from cash-settled options by ensuring actual XRP is delivered upon settlement, which further solidifies market integrity and enhances price discovery.

CEO Luke Hoersten emphasized the importance of these contracts in enhancing market transparency, while President Michael Dunn remarked on the role of XRP futures in establishing Bitnomial as a leader in regulated cryptocurrency derivatives trading. Notably, the announcement of these XRP futures followed Ripple CEO Brad Garlinghouse’s revelation regarding the SEC’s decision to drop its appeal in an ongoing lawsuit concerning XRP.

The launch of the first CFTC-regulated XRP futures by Bitnomial signals a pivotal development in the cryptocurrency landscape. By providing a transparent and compliant trading option, Bitnomial not only enhances market integrity but also solidifies its position as a leader in the regulated crypto derivatives sector. Additionally, the dismissal of the SEC lawsuit highlights the growing regulatory clarity in the crypto market, fostering an environment conducive to innovation.

Original Source: news.bitcoin.com

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