FTX.US acquires CFTC-approved cryptocurrency platform LedgerX

FTX.US, the U.S. subsidiary of Hong Kong-based cryptocurrency exchange FTX, has acquired the parent company behind cryptocurrency derivatives exchange LedgerX.
The acquisition could lead to FTX.US providing regulated cryptocurrency derivatives services to U.S. customers. Details of the acquisition have not been disclosed, but the deal will reportedly close this October.

FTX.US acquires CFTC-approved cryptocurrency platform LedgerX

LedgerX LedgerX, a CFTC-approved cryptocurrency and futures trading platform that calculates physical contracts and has processed more than 10 million crypto options and exchange contracts, becoming the leading provider of cryptocurrency derivatives services. The recent acquisition of FTX.US, whose parent company recently completed the largest cryptocurrency funding round of $900 million, will focus on creating retail and institutional derivative products for the cryptocurrency market.
FTX.US President Brett Harrison said:
"It's only natural to want to enter the largest capital market in the world inside the U.S. with the same product through all of our existing institutional and retail customers who want to trade these products."
Initially LedgerX will continue to offer its services to existing clients, but over time the two brands will merge. The partnership could help FTX.US also climb into the cryptocurrency derivatives market.
FX24

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