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FTX.US acquires LedgerX in a bid to provide futures and options trading

ftx.us-acquires-ledgerx-in-a-bid-to-provide-futures-and-options-trading

FTX.US wants to start offering futures and options trading services to its US clients, and the acquisition of LedgerX would allow it to do so.

FTX.US acquires LedgerX

Leading crypto exchange FTX announced earlier today that it has agreed to acquire LedgerX, a CFTC regulated digital currency futures & options exchange and clearinghouse. FTX.US announced this via a press release earlier today, stating that the deal will soon be completed pending satisfaction of customary closing conditions.

The acquisition will make it possible for FTX.US to start providing derivative trading services to its customers in the United States. Brett Harrison, President of FTX.US, said, “We’re excited to take this step and work with US regulators to ensure compliance with the existing derivatives licensing regime. We believe it is incumbent upon the industry to be proactive and to seek out working relationships with regulatory groups like the CFTC to help shape the future of our industry.”

LedgerX is a leading derivatives provider in the cryptocurrency space. Over the past few years, the firm has cleared over 10 million crypto options and swap contracts and launched the bitcoin mini contracts that empower granular trading. Zach Dexter, CEO and Co-Founder of LedgerX, said, “US crypto derivatives is an incredibly underserved market, and it took time and resources for us to become a regulated entity under the existing frameworks.”

FTX.US wants to offer derivative services

This latest development comes two weeks after FTX.US said it intends to offer derivative trading services before the end of the year. At the time, Harrison said the exchange definitely hope to be able to offer them inside of a year. He added that FTX should have started a long time ago but wants to work with the CFTC to offer the products in the United States.

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