Ledger Holdings, 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 clearing house for bitcoin and other digital currencies.
“In the short term, these investments will further our application to become a regulated exchange and clearing house for bitcoin options. In the long term, these strategic investors will help us enter additional marketplaces and territories,” states Paul Chou, CEO LedgerX LLC.
LedgerX, the 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 clearing house 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,” stated James Wo, President of Huiyin Blockchain Venture Investments, a subsidiary of investment conglomerate the Huiyin Group.
“MIH is excited to be involved with a company on the cutting edge of a new exchange space involving digital currency,” said Thomas P. Gallagher, Chairman and Chief Executive Officer of MIH. “We believe that our investment with LedgerX furthers our mission to be at the forefront of innovations for the financial services marketplace,” added Gallagher.
Executive Vice President and Head of Exchange Traded Products and Strategic Relations at MIH, John Smollen remarked, “We are confident that the talented management team at LedgerX will lead the company to great success and we are pleased to be able to support their endeavors.”