LedgerX Partners with Brave New Coin to Launch Digital Currency Perpetual Products

LedgerX Partners with Brave New Coin to Launch Digital Currency Perpetual Products

LedgerX, a leading digital currency futures and options exchange, has announced its plans to introduce digital currency perpetual products in collaboration with Brave New Coin (BNC), a prominent digital asset data infrastructure company. This strategic partnership aims to enhance LedgerX’s offering by leveraging BNC’s high-frequency Bitcoin (BTC) and Ether (ETH) price feeds, which are crucial for the development of perpetual products. These products, once approved by the Commodity Futures Trading Commission (CFTC), will allow investors to engage in perpetual contracts tied to the value of cryptocurrencies like Bitcoin and Ether.

Although LedgerX has not yet submitted these products for CFTC review, the partnership with Brave New Coin marks an important step in expanding the platform’s offerings. The integration of BNC’s data infrastructure will help LedgerX meet the growing demand for accurate and real-time pricing in the digital currency market.

Brave New Coin’s Role in Providing Data and Index Solutions

Founded only a year ago, Brave New Coin has quickly gained traction for its high-frequency data solutions and crypto index infrastructure, which have become in high demand by institutional clients. BNC’s clientele includes notable names such as the Toronto Futures Options and Swaps Exchange (tFOSE) and the BTSE cryptocurrency exchange. Additionally, BNC provides data and index solutions to leading players across various industries, including NASDAQ, Dow Jones Factiva, Refinitiv, and even Amazon Alexa.

Brave New Coin’s ability to deliver high-quality price feeds and its growing infrastructure have made it an ideal partner for LedgerX as the latter works to launch its new suite of perpetual products. The collaboration will enable LedgerX to offer its users a robust, scalable solution for engaging with the evolving digital asset markets.

LedgerX’s Growth and Vision for Perpetual Products

Zach Dexter, CEO of LedgerX, expressed excitement about the partnership, stating that as LedgerX developed its perpetual products, it became clear that Brave New Coin’s digital asset infrastructure would play a key role in delivering the best product to users. With the support of BNC, LedgerX is poised to scale its offerings in 2021, expanding its reach in the digital currency derivatives market.

LedgerX is the first CFTC-regulated crypto derivatives exchange, and although this distinction was met with some confusion in the past, it remains a key differentiator in the marketplace. The CFTC regulation ensures that LedgerX complies with strict standards, providing users with confidence in its products and services.

Support from Major Corporates and Focus on Tax Reporting

LedgerX has attracted support from several large corporations, including Digital Finance Group, Miami International Holdings, Lightspeed Venture Partners, Google Ventures, and SV Angel. The backing from such high-profile investors highlights LedgerX’s potential in the rapidly growing cryptocurrency derivatives space.

In addition to its recent partnership with Brave New Coin, LedgerX has also focused on the growing importance of tax reporting in the cryptocurrency industry. To address this, LedgerX recently announced its collaboration with Lukka and IHS Markit to develop and deliver Forms 1099-B to its trading customers. This move reflects the platform’s commitment to staying compliant as the cryptocurrency space matures, and tax reporting becomes increasingly important for crypto traders.

LedgerX’s Position in the Bitcoin Options Market

Since its launch in 2017, LedgerX has become one of the leading marketplaces for Bitcoin options, facilitating over 10 million options and swap contracts to date. Its continued growth and innovation have positioned it as a key player in the cryptocurrency derivatives market. By expanding its product offerings and forging strategic partnerships, LedgerX is well-positioned to continue driving innovation in the digital asset space.

Conclusion: A Strategic Partnership for Growth and Innovation

In conclusion, LedgerX’s partnership with Brave New Coin is a significant step in the platform’s strategy to expand its offerings with new digital currency perpetual products. The collaboration with BNC enhances LedgerX’s ability to provide high-quality data feeds, enabling the company to meet the demands of institutional investors and traders. As the cryptocurrency derivatives market continues to grow, LedgerX is positioning itself at the forefront of innovation, offering products that cater to the evolving needs of the digital asset market.

With continued support from major investors and a focus on regulatory compliance and tax reporting, LedgerX is set to further solidify its leadership in the cryptocurrency derivatives space in 2021 and beyond.

To learn more about the innovative startups shaping the future of the crypto industry, explore our article on the latest news, where we delve into the most promising ventures and their potential to disrupt traditional industries.