LedgerX Raises $11.4M for Regulated Exchange

Blockchain, FinTech, Innovation, Investing, News, Regulation | May 23, 2017 By:

New York-based Ledger Holdings has raised $11.4m in a Series B funding round led by Miami International Holdings Inc (MIH) and China’s Huiyin Blockchain Venture Investments. Ledger Holdings is the parent company of LedgerX, an institutional derivatives exchange platform for digital currencies.

LedgerX CEO and co-founder Paul Chou said that in the short-term, the investments will further their application to become a regulated exchange for bitcoin options. In the long-term, they expect to enter other marketplaces and territories

LedgerX is currently awaiting regulatory approval from the US Commodity Futures Trading Commission. When approved, LedgerX will let traders obtain and hedge bitcoin using exchange-traded and centrally-cleared options contracts.

“We believe a regulated bitcoin market could substantially expand the bitcoin economy,” said Huiyin Blockchain Venture Investments president James Wo. “In this regard, a vibrant options market, which LedgerX plans to build, is a critical foundation to the entire ecosystem.”

“MIH is excited to be involved with a company on the cutting edge of a new exchange space involving digital currency,” said MIH Chairman and Chief Executive OfficerThomas P. Gallagher. “We believe that our investment with LedgerX furthers our mission to be at the forefront of innovations for the financial services marketplace.”