I’ll get it out of the way: Yes, LedgerX is live.
Institutions who have gone through our rigorous on boarding process over the last few months have had the opportunity to trade this week in what we called internally, a “soft launch.”
As a new exchange and clearing house with technology built entirely from scratch, we were hoping for a quiet first week with minimal volumes to test the pipes. No press, no fanfare, just a laser sharp focus on our customers, regulators and maybe we’d see a handful of small trades.
Wow, were we mistaken — we ended up completing swaps and options trades worth over $1,000,000 USD. Crucially, these trades were cleared through LedgerX, which is the only institutional grade, US federally regulated exchange and clearing house for digital currencies. And we are literally just getting started.
This is the first platform of its kind where you have a unified way to buy and sell BTC via swaps, and monetize the volatility with options. As a clearing house, we guarantee all the trades with the highest standard of oversight possible in partnership with the same US regulator that maintains the integrity of the foreign exchange, gold, and oil derivatives markets. There is no other platform in the world that can match the trade surveillance, regulatory oversight, and sophistication of financial instruments that we offer.
My personal preference was to start operating at a small scale, but in the end, I can’t tell our customers what to do. And what they are doing makes me confident LedgerX will be the dominant platform for institutional trading of digital currencies.
LedgerX is open for business. Click here to get started.