Bitcoin Options Service LedgerX Raises $11.4 Million in Series B Funding

The parent company of bitcoin options exchange operator LedgerX has raised $11.4m in a Series B funding round.

May 22, 2017 at 6:00 a.m. UTC
Updated Sep 11, 2021 at 1:20 p.m. UTC

The parent company of bitcoin options exchange operator LedgerX has raised $11.4m in a Series B funding round.

The round for Ledger Holdings was led by Miami International Holdings and Huiyin Blockchain Venture Investments, the startup announced this morning. MIH is the parent company of Miami International Securities Exchange, LLC, an options exchange operator. Huiyin Blockchain Venture is a subsidiary of investment conglomerate Huiyin Group, launched last year with tens of millions of dollars worth of backing.

The round comes as LedgerX awaits final approval from the Commodity Futures Trading Commission (CFTC) for its bitcoin options trading service. It first received temporary approval from the agency – which regulates bitcoin and other digital currencies as kinds of commodities – in late 2015.

In statements, representatives for the firm highlighted the regulatory push, indicating that the funding would, in part, support those efforts.

LedgerX CEO Paul Chou said in a statement:

"In the short term, these investments will further our application to become a regulated exchange and clearing house for bitcoin options. In the long term, these strategic investors will help us enter additional marketplaces and territories."

The startup previously raised $1.5m in seed funding from a group that included Google Ventures and Lightspeed Venture Partners.

Image via Shutterstock

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
After the Terra Meltdown: What's Next for Stablecoins?

The largest token collapse in crypto history. So let Luna die.

The largest token collapse in crypto history. So let Luna die.

CoinDesk - Unknown
2
CoinDesk - Unknown
5 Key Takeaways From a16z's State of Crypto Report

The venture firm is extremely bullish on Web 3.

The venture firm is extremely bullish on Web 3.

CoinDesk - Unknown
3
CoinDesk - Unknown
Regulators Are Paying Attention to UST

The collapse of terraUSD (UST) is algorithmic stablecoins’ Libra moment.

The collapse of terraUSD (UST) is algorithmic stablecoins’ Libra moment.

CoinDesk - Unknown
4
CoinDesk - Unknown
San Francisco NFL Player Alex Barrett Taking His Salary in Bitcoin

The most valuable crypto stories for Thursday, May 20, 2022.

The most valuable crypto stories for Thursday, May 20, 2022.

CoinDesk - Unknown