Web Desk — Ledger Holdings, the New York-based parent company of bitcoin options exchange LedgerX, said on Monday it closed $11.4 million in funding led by Miami International Holdings Inc and China’s Huiyin Blockchain Venture Investments.
Bitcoin options exchange raises $11.4 million in funding https://t.co/dMFQd07Utq
— Reuters Tech News (@ReutersTech) May 22, 2017
The funding supports LedgerX’s plan to operate a regulated exchange and clearing house for bitcoin and other digital currencies.
LedgerX is awaiting regulatory approval from the Commodity Futures Trading Commission to operate the first U.S. regulated exchange and clearing house for bitcoin options. On approval, participating institutions can use the LedgerX platform to 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,” Paul Chou, chief executive officer of LedgerX LLC, said in a statement.
“In the long term, these strategic investors will help us enter additional marketplaces and territories,” he added.
Chou sits on the CFTC’s Technology Advisory Committee.