Ledger Holdings, the parent company of bitcoin options exchange LedgerX, announced today it closed $11.4 million in Series B financing.
Led by Miami International Holdings Inc. and Huiyin Blockchain Venture Investments, this funding supports LedgerX’s plan to operate a regulated exchange and clearinghouse for bitcoin.
“In the short term, these investments will further our application to become a regulated exchange and clearinghouse for bitcoin options. In the long term, these strategic investors will help us enter additional marketplaces and territories.”
– Paul Chou, CEO LedgerX LLC
LedgerX, a New York-based bitcoin swap exchange (Swap Execution Facility), is currently awaiting regulatory approval from the U.S. Commodity Futures Trading Commission (CFTC) to operate the first U.S. regulated exchange and clearinghouse for bitcoin options.
Upon approval, participating institutions can use the LedgerX platform to obtain and hedge bitcoin using exchange-traded and centrally cleared options contracts.
“We believe a regulated bitcoin market could substantially expand the bitcoin economy. In this regard, a vibrant options market, which LedgerX plans to build, is a critical foundation to the entire ecosystem.”
– James Wo, President of Huiyin Blockchain Venture Investments, a subsidiary of investment conglomerate the Huiyin Group
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