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Bitcoin gets boost as U.S. watchdog approves first swap

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Gareth Jones
Co-Founder, FinTech Collective

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Gareth Jones
Co-Founder, FinTech Collective

TeraExchange launched a swap based on the bitcoin virtual currency late last week and became the first to receive approval from a U.S. federal regulator for a financial product based on the the blockchain.

As noted by Reuters the derivative allows clients to protect the value of their bitcoin holdings by locking in a dollar value.

"For a merchant to take bitcoin, there wasn't until this product a regulated way for them to put on a hedge to manage the risk ... and now with this product they can," Christian Martin, who heads TeraExchange, told Reuters.
in.reuters.com/...
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bitcoin, cryptocurrency

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Gareth Jones
Co-Founder, FinTech Collective

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Gareth Jones
Co-Founder, FinTech Collective

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