Good new for Bitcoin and futures traders alike! Straits Financial LLC, announced today it will be the first U.S. based Futures Commission Merchant (“FCM”) to utilize the services of bitcoin payment processor BitPay Inc. and digital bank WB21 Ltd. This will allow customers to convert bitcoin to fund their Straits investment and trading accounts.
Headquartered in Singapore, Straits is a boutique brokerage house that offers a full spectrum of derivatives and OTC products, including trade facilitation for physical commodities. Its US subsidiary is a full Clearing Member of the Chicago Mercantile Exchange (CME), Chicago Board of Trade (CBOT), New York Mercantile Exchange (NYMEX), the Commodity Exchange (COMEX), CME Clearport, Dubai Mercantile Exchange (DME), New Zealand Exchange (NZX). The WB21 and BitPay services will allow bitcoin users to rely on Straits’ infrastructure to trade and manage risk in the multi-trillion dollar commodities markets in products such as energy, precious and base metals, agricultural commodities and stock indexes.
Straits Financial LLC President Joseph Mazurek remarks: “This is a great next step for Straits and the industry. BitPay and WB21 will help customers to easily convert their bitcoin holdings into currencies that can be used to