CFTC Gives Tassat The Green Light To Serve as SEF With New License ByAli RazaPRO INVESTOR Updated: 08 November 2019 The US Commodity Futures Trading Commission made an announcement, where they said Tassat Derivatives successfully acquired trueEX LLC’s SEF license. The transfer of the Swap Execution Facility License was enacted after almost four months of having an “agreement in principle” between the respective companies. TrueEx was first given the license in January 2016 before they agreed to transfer the license to Tassat Derivatives. A Brave New World (Of Services) Tassat, known as trueDigital Holdings in the past, stated that it was looking forward to launching a wholly regulated crypto derivatives exchange platform in the US. The company would offer clients things like physically delivered Bitcoin as well as other products. They made these statements back in the month of July. Thomas Kim, Tassat’s CEO, added to statements made by the company at that time. He explained that the addition of exchange to the company’s ecosystem allows for a completely new offering spanning from end to end. This offering includes payments, tokenization, settlements, and market data that will all benefit Tassat’s partners and clients. Kim continued by saying that both Tassat and trueEX were eligible for transferring the SEF registration. He claims that This was done via Tassat’s demonstration that it will be compliant with the Commodity Exchange Act’s provisions and the CFTC’s regulations in the context of SEF platforms. With Tassat included, there are 19 SEFs in the US. One Platform Suits All Tassat’s ambition of providing a trading platform where its clients can offer their products is one step closer to fruition thanks to Wednesday’s approval. The company still needs the Designated Contract Market (DCM) registration from trueEX in order to achieve their goals. As the goals develop, Tassat is looking forward to its competition. Companies like Bakkt/Intercontinental Exchange, LedgerX, ErisX, and Seed CX are all either already or in the process of gaining physically-settled offerings on bitcoin derivatives. All these companies are vying for the large consumer base in the US. A Brief History Tassat has always been an active addition to the cryptocurrency community since its founding year of 2018. Signature Bank made use of Tassat’s aid in building a payment platform for the Signet blockchain, something that launched last year in December. The company partnered up with AlgoTrader more recently. Tassat and the software provider gave access to crypto derivatives for institutional clients. Even Kaiko and Inca Digital Securities made use of Tassat. Partnering up, they managed to provide a broader range of references regarding their Over-The-Counter (OTC) Ether and Bitcoin rates. The more competition with these exchanges, the better it will be for the consumer. Fintech companies have started to trade specific offerings without asking a commission, thanks to various companies trying their hardest to outdo the other in performance. The more crypto exchanges there are, the more likely this will happen in the crypto industry as well.