It was only a matter of time until Bitcoin companies would attract more funding again. Ledger Holdings, the parent company of LedgerX, raised US$11.4m. This is good news for the Bitcoin options exchange, as they can expand their presence. Moreover, it will allow LedgerX to operate a regulated exchange for bitcoin and other currencies. it is also believed this platform will serve as a clearing house.
A Big Round of Funding for LedgerX
It is always good to see Bitcoin platforms raise funding to expand their presence. LedgerX has become somewhat of a household name among cryptocurrency enthusiasts. The company made a name for itself as a Bitcoin options exchange. Expanding their presence is just one of the many future plans. Parent company Ledger Holdings also wants to run a regulated exchange and clearinghouse for cryptocurrencies.
Considering how LedgerX is currently awaiting regulatory approval from the CFTC, this news comes at a critical time. It is evident external parties want this company to succeed more than anything else. Running the first US-based regulated exchange and clearinghouse for Bitcoin options would be a major boon for the company. This process can take quite some time, though, and there is no guarantee of receiving approval.
Assuming the CFTC approves the LedgerX proposal, institutionalized investors will have easier access to Bitcoin. Anyone can use this platform to obtain and hedge Bitcoin using centrally cleared options contracts. An additional round of funding could sway the mind of the CFTC regarding this decision. Moreover, this fresh capital will help the company enter new marketplaces over time.
It is interesting to note this round of funding is made possible thanks to important financial players. Miami International Holdings and Huiyin Blockchain Venture Investments are two emerging players in the world of blockchain. This is not the first round of funding for LedgerX either. The company raises US$1.5m earlier, thanks to Google Ventures and others. Bitcoin is attracting a lot of attention these days, as does any company working with it.
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