Cryptocurrency exchange FTX.US acquires LedgerX, a provider of cryptocurrency derivative transactions
FTX.US Acquires LedgerX
https://www.prnewswire.com/news-releases/ftxus-acquires-ledgerx-301365817.html
FTX US Acquires LedgerX To Expand Into Crypto Derivatives
https://forkast.news/headlines/ftx-us-acquires-ledgerx-crypto-derivatives/
Founded in 2019, FTX is the second largest cryptocurrency exchange in the world after Binance, the world's largest cryptocurrency exchange. In July 2021, the corporate value reached 19 billion dollars (about 2 trillion yen) following the successful financing of 900 million dollars (about 100 billion yen) from more than 60 investment groups including Softbank. I am.
Cryptocurrency exchange 'FTX' succeeds in raising 100 billion yen, corporate value reaches 2 trillion yen --GIGAZINE
Meanwhile, UTX.US, the US branch of FTX, announced that it will acquire Ledger Holdings Inc, the parent company of LedgerX, which operates a cryptocurrency derivative trading platform. The specific financial terms for the acquisition were not clear at the time of writing the article.
Based in New York, LedgerX offers collateralized physical settlement Bitcoin swaps and options trading, which allows individual and institutional investors to trade 24 hours a day, 7 days a week. In June 2019, it was approved as a designated contract market by the US Commodity Futures Trading Commission (CFTC) , and in September 2020, we started offering Bitcoin futures .
'This acquisition is an important milestone in our fast-growing US business and provides US users with publicly regulated crypto asset derivatives,' said Brett Harrison, president of FTX.US. It's an important part of the strategy. ' The acquisition of LedgerX, which has already been approved by CFTC and offers a variety of derivative transactions, will increase the types of products that FTX.US can offer, so this acquisition has significant strategic benefits. That thing.
'American crypto assets derivatives are a surprisingly underserved market, and it takes a lot of time and resources to become a public sector regulated entity within the existing framework,' said Zack Dexter, CEO of LedgerX. It was necessary. FTX.US said, 'US regulators are ready to partner with innovative products, and it is the industry-wide responsibility to work with agencies like CFTC.' I am. '
The new integrated entity will build partnerships with CFTC and other regulatory agencies to drive innovation while meeting the standards of the financial industry. The acquisition will not have a significant impact on LedgerX's business, and existing customers will continue to be able to trade LedgerX products.
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