LedgerX Bitcoin options exchange raises $11.4 million
LedgerX parent company Ledger Holdings has received £11.4 million in funding led by Miami International Holdings and Huiyin Blockchain Venture Investments, reported Reuters. Based in New York, it plans to operate a regulated exchange and clearing house for cryptocurrencies. The report stated it would be the first such regulated exchange for Bitcoin options in the US.
Currently, LedgerX is waiting for regulatory approvals from the Commodity Futures Trading Commission. When approved, LedgerX will let traders obtain and hedge Bitcoin using exchange-traded and centrally-cleared options contracts. “In the short term, these investments will further our application to become a regulated exchange and clearing house for bitcoin options,” said Paul Chou, CEO of LedgerX.
“In the long term, these investors will help us enter additional marketplaces and territories.”