The U.S. Commodity Futures Trading Commission (CFTC) is considering a plan that would allow tokenized assets, including stablecoins, to serve as collateral in derivatives markets.
Moreover, it forms part of its broader ‘crypto sprint‘ to implement recommendations from the President’s Working Group on Digital Assets.
‘Since January, the CFTC has taken clear action to usher in America’s Golden Age of Crypto,’ said Acting Chairman Pham.
‘At our historic Crypto CEO Forum, we discussed how innovation and blockchain technology will drive progress in derivatives markets, especially for modernization of collateral management and greater capital efficiency. These market improvements will unleash US economic growth because market participants can put their dollars to work smarter and go further.’
The agency is also encouraging stakeholders to give feedback on tokenized collateral in derivatives markets until October 20.
The mobile wallet (available on Google Play and iOS) supports over 1K assets, soon across 60 networks, making it a go-to hub for managing your cryptos in one place.
As a non-custodial wallet, it’s a highly secure option; it gives you full control over your private keys, plus includes additional safeguarding measures such as 2FA, biometrics, and in-app suspicious token filters.
Another highlight is its seamless cross-chain swaps. It connects with 330+ DEXs and 30 bridges so you can seamlessly swap top cryptos for the best rates on the market.
And that’s not all. Best Wallet has many future developments in the pipeline, including a crypto debit card (Best Card), NFT gallery, limit orders, and market intelligence analytics (to mention a few!).
It sets aside a quarter of its total token supply to product development.
In fact, $BEST plays a major role in the entire ecosystem. It unlocks key benefits for holders, including reduced fees, high-yield staking rewards (currently at 82% APY), governance rights, and early access to presales.
This is not financial advice. Crypto is a competitive, high-risk market so always DYOR and invest wisely.
