LedgerX gets Google, Lightspeed backing to set up regulated bitcoin futures exchange


USA based startup LedgerX LLC has raised funding from Google Ventures and Lightspeed Venture Partners and brought on big financial industry names to its board of directors to add a dose of legitimacy to the virtual currency space as it attempts to set up what would be the first bitcoin futures exchange with CFTC approval.

Supporters of the company, started this year by former Goldman Sachs high-frequency traders and Massachusetts Institute of Technology-educated computer scientists, believe that a United States regulated, American based futures exchange for bitcoin would settle down some of the volatility of bitcoin prices, give existing businesses that store and trade bitcoin an additional means to hedge their bets, and bring financial institutions who haven’t been comfortable with bitcoin so far into the game.

LedgerX has applied for registration with the US Commodity Futures Trading Commission as a swap execution facility and a derivatives clearing organization. LedgerX intends to initially list physically-settled digital currency (e.g., bitcoin) option contracts.

Participant applications and agreements will only be final upon LedgerX’s receipt of all necessary regulatory approvals.

If you are interested in becoming a LedgerX participant, please contact [email protected] for more information.

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LedgerX gets Google, Lightspeed backing to set up regulated bitcoin futures exchange

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