New Exchange Bitnomial Gets CFTC Nod to Offer Bitcoin Futures

Startup cryptoexchange Bitnomial received approval from the Commodity Futures Trading Commission to offer futures contracts on Bitcoin.

Bitnomial was granted designation as a contract market, the CFTC said Monday in a statement.

Bitnomial joins much larger competitors CME Group Inc. and Intercontinental Exchange Inc. in offering derivatives based on the world’s most valuable cryptocurrency.

The plan is to offer physical delivery of Bitcoin, meaning users who hold contracts to expiration will be paid in the digital asset. Until now, the only physically-settled Bitcoin contracts in the U.S. have been offered by Intercontinental Exchange’s Bakkt unit. CME’s Bitcoin contract is…

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