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Ledger X to trade for a million, in derivatives of Bitcoin in a week.

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October 23, 2017 | 

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Joanna Newman | 

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Ledger X to trade for a million, in derivatives of Bitcoin in a week.


Bitcoin's trading platform, Ledger X confirmed today that it had begun trading virtual currency derivatives.

These are the first regulated transactions of derivatives of digital currencies.

During the first week, Ledger X traded in swap and option contracts for a notional value of more than $ 1 million.

Paul Chou, CEO of Ledger X said:
"This week, a new standard is established for transparency, monitoring, and counterparty assurance. Institutional investors and traders can now rely on a guaranteed clearing and settlement process when negotiating Bitcoin contracts. "

So far Ledger X's trading was exclusively in Bitcoin, today the company has the possibility to add assets in other cryptocurrencies

The company has obtained the authorization to be a swap execution facility (SEF) as well as a derivatives clearing organization (DCO) in other words a derivative clearing organization.

The company will now be able to work with asset managers, Bitcoin mining companies, investment banks, and even hedge funds and see the number of its clients multiplied.

The CEO added:
"Our regulated institutional-quality platform allows entrants on the sidelines to enter the digital currency market. "

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