LedgerX trades $ 1 million in Bitcoin derivatives

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In a press statement today, the LitgerX bitcoin trading platform confirmed rumors that it has already started trading in cryptocurrency derivatives, an offering it first to get approval to begin selling to institutional investors in July.

According to the data provided by the company, LedgerX saw 176 swaps and option contracts traded in the first week, with conditional values ​​of more than $ 1 million.

LedgerX CEO Paul Chou said in a statement that that week a new standard has been established to ensure transparency, supervision and guarantees of third-party organizations. Institutional investors and traders can now count on a guaranteed process of clearing and settlement when making deals with bitcoin.

It is noteworthy that while the initial LedgerX trades appear to be exclusively in bitcoin, license’s details give the company the ability to add other assets that qualify as cryptocurruncies.

The company, based in New York, is licensed as a means of swapping (SEF), and the organization of clearing for derivatives (DCO).

It is reported that LedgerX is working with trading options centers, asset managers, hedge funds, mini-companies selling bitcoin, family offices and investment banks, as a way to increase the number of its customers.