The U.S. Commodity Futures Trading Commission (CFTC) launched a pilot program on Monday

that allows certain digital assets—Bitcoin (BTC), Ethereum (ETH), and USD Coin (USDC) or other payment stablecoins—to be used as collateral in the U.S. derivatives market.

Currently, the program is only available to futures commission merchants (FCMs) that meet specific conditions.

These firms can accept Bitcoin (BTC), Ethereum (ETH), and payment stablecoins (like USDC) as margin collateral for futures and swap trades, but they must adhere to strict reporting and custody requirements.

In the first three months, they must disclose their digital asset holdings weekly and report any issues to the U.S. Commodity Futures Trading Commission (CFTC).