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After EOS, Tether might launch on Liquid Network in the future?

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After EOS, Tether might launch on Liquid Network in the future?

The CTO of Bitfinex, Paolo Ardoino, confirmed the launch of Tether on chains other than Omni blockchain, Tron and Ethereum. The announcement happened via a tweet.

Ardoino tweeted:

The tweet, although vague, caught the attention of a lot of people, as they tried guessing the next chain. EOS was the most popular guess as Bitfinex is already a block producer on the BOSCore network.

The announcement was confirmed when the CTO tweeted:

“eosfinex and lot of EOS projects need a stable coin. Why not bring the most used stablecoin to them?”

However, the CTO didn’t stop there as he hinted the launch of Tether on a new chain, the Liquid Network.

The Liquid Network is a blockchain for exchanges, brokers, and market makers that enable fast, private Bitcoin transactions with other members of the network. Through Liquid’s Issued Assets feature, members can tokenize fiat currencies, securities, or even other cryptocurrencies.

Tether or Bitfinex have been under pressure ever since the lawsuit brought forward by the NYAG, which uncovered information previously not known to retail users.

Moreover, USDT has been on a steady rise, over the course of a month, Tether has printed approximately $1 billion USDT, which has caused its market cap to increase to almost $3 billion.





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ErisX goes all hands on deck to launch a Bitcoin Futures market

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ErisX goes all-hands on deck to launch a Bitcoin Futures market
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ErisX’s CSO, Matt Trudeau, detailed the company’s four important plans for the future, which includes launching a spot market, to secure a Bit License, DCO, and to launch a futures market.

ErisX currently has a DCM contract, which is a Derivative Contract Market that allows ErisX to run a CFTC-regulated futures exchange. However, ErisX aims to get a DCO [Derivatives Organization], which will effectively allow it to run a CFTC-regulated clearinghouse. A clearinghouse would mean that ErisX can take control of the custody of the assets and clear and settled trades.

The CSO explained the benefit of this, stating,

“There is some efficiency for firms like producers [like mining companies]; if they need to hedge their inventory or need liquidity on a spot market, they could do that conveniently on a single platform. “

Trudeau added that from the “post-trade standpoint” and “the collateral management standpoint,” ErisX would have cash, crypto, and the futures, all stored in their clearinghouse. This would boost efficiency since it would be available for all customers under a single platform. The CSO added,

“… so there is some efficiency in terms of managing collateral, if you don’t have assets on  multiple platforms, it can all be in our clearinghouse.”

Apart from the aforementioned plans, Trudeau added that the crypto-industry needs to mature more and that ErisX plans to make a significant contribution to that. He added,

“The market is professionalizing and we think that in terms of what institutions are expecting from a trading/custody experience, we will bring some of the solutions to the market and that’s really the foundational pieces that they are looking in order to build their businesses on top of us.”

Apart from ErisX, LedgerX has also received a go-sign from the CFTC to settle Bitcoin Futures in Bitcoins. Other exchanges include Intercontinental Exchange’s Bakkt and Seed CX.





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