Bitcoin Swaps Near Reality as Tera Creates Legal Framework
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Tera Group Inc. created a framework for buying and selling swaps linked to Bitcoin that would let investors hedge risk from trading the digital currency.
The firm announced today that it drafted a bilateral agreement that provides a legal template for trading Bitcoin swaps. Tera Group, based in Summit, New Jersey, is seeking clearance from the U.S. Commodity Futures Trading Commission so it can begin trading Bitcoin contracts on its swap-execution facility. Tera Group also said it’s handling a multimillion-dollar swap between two American institutions.