It will use Brave New Coin’s BTC and ETH price feeds for its perpetual products, which will be submitted to the Commodity Futures Trading Commission (CFTC) for its review and approval.
Backed by Digital Finance Group, LedgerX is the first CFTC regulated cryptocurrency derivatives exchange.
101k Feb 2021 #BTC options contracts expired last Friday on @ledgerx (1,010+ BTC) 📈with the majority of open interest in the 50k and 75k strikes. $152 mil notional traded on Feb 2021 contracts. Check out Feb 2021 total options volume below 👇 pic.twitter.com/mR0f7Y9RkK
— LedgerX (@ledgerx) March 2, 2021
Fran Strajnar, Founder of Brave New Coin, said: “We’re pleased to work with LedgerX to integrate our high-frequency index engine. The industry has been anticipating the launch of additional these products, and for good reason. We believe LedgerX will be able to out-innovate the legacy competitors.”
“We look forward to continued work with LedgerX to ensure its exchange has access to the best digital asset data in the sector.”
LedgerX’s CEO, Zach Dexter, added: “As we started developing perpetual products, it became clear to us that Brave New Coin’s digital asset infrastructure and capabilities were key to helping us deliver the best product to our users.
“BNC has offered us the support we need as we scale up our offering in 2021.”
All contracts will be physically settled, with algorithmic trading opportunities being offered to all institutional investors.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.