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Bitcoin BTC News, Cryptocurrency News

Ledger X leads Bakkt in the Bitcoin Futures race

Ledger X launched their physically delivered BTC options this week, after obtaining the Designated Contract Marketing License (DCM) from the CFTC.  The new product has started to be offered to retail and institutional investors in the US and Singapore, with plans for further expansion. The permission has crowned LedgerX as the first-ever company to offer physically-settled BTC futures contracts in the States.

The news did not come as a great surprise to the market as the rumours has been circulating since April, when the company expressed its desire to have a competitive advantage in the offering of crypto derivatives.

In an interview with Unchained, Juthica Chou, the COO of LedgerX commented on the newest product:

“Retail investors can now have access to the same derivatives, products, and options that the LedgerX institutional customer base has been trading for almost two years now”. We were restricted in terms of our license to only allow access to institutions, but we had worked with the regulators over the last maybe 6 to 9 months to get a new license”

Omni is the platform used by LedgerX to provide the derivatives facilities. A minimum of 10K must be deposited by retail investors to be able to open an account, while a much bigger amount is required from institutional investors.

The CEO of LedgerX, Paul Chou affirmed that traders won’t be needing US bank accounts to deposit, as many forms of payment will be provided.  In addition, low-interest rates will be a key feature attracting customers, thus, giving Ledger X an edge in the industry.

Image c/o Ledger X

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