Popular crypto prediction market platform Kalshi has reportedly filed to bring exclusive crypto derivatives offerings to crypto users in the U.S.
The filings propose that the company get regulatory approval from the SEC to trade perpetual futures contracts for XRP, Solana, Dogecoin and other altcoins in the United States.
The filings have sparked discussions in the crypto market as it seeks to offer crypto traders in the U.S. an avenue to explore and utilize the price movements of XRP and other featured cryptocurrencies without the need to hold them.
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With the proposed development, U.S. crypto traders will be able to track spot market prices for XRP and other listed altcoins while they maintain positions indefinitely through funding rate mechanisms.
Kalshi integrates CF Benchmarks for its pricing
Details of the filings revealed that Kalshi is planning to integrate the leading digital asset index provider CF Benchmarks to use its benchmark pricing data to trade the products.
Notably, the CF Benchmarks’ pricing framework will feature as the foundation for the crypto derivative trading products set to launch on Kalshi.
Kalshi further noted that it has chosen to integrate CF Benchmarks on its new project due to its transparency and reliability, thereby bolstering trust for its potential American users.
Notably, Kalshi emphasized that pricing data is publicly documented, subject to regulatory oversight, and designed to remain operational even during exchange outages or disruption of trading activities.
To manage possible loopholes, the benchmark aggregates market data from regulated exchanges, including Coinbase and Kraken, to determine reference prices and funding rates for the contracts.
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