LedgerX, the leading digital currency futures and options exchange, announced today that it would pursue digital currency perpetual products. In this endeavor, it will collaborate with the digital asset data infrastructure company Brave New Coin. BNC will offer LedgerX with its high-frequency Bitcoin (BTC) and ether (ETH) price feeds for the perpetual products. LedgerX is yet to present these feeds to the CFTC for review and approval. Moreover, LedgerX unveiled its latest collaboration with digital asset data infrastructure company Brave New Coin on 3rd March.
BNC provides Data and Index Solutions
Although Brave New Coin had only launched early last year, their crypto index infrastructure has developed high demand from large institutions. Their clients’ list involves the Toronto Futures Options and Swaps Exchange (tFOSE) and the BTSE cryptocurrency exchange. Moreover, the BNC also offers data and index solutions to several other players in the market. Moreover, this list incorporates NASDAQ, Dow Jones Factiva, Refinitiv, and Amazon Alexa.
Diving into the nuances of the collaboration, Zach Dexter, the CEO of LedgerX, said that as they began developing perpetual products, it was evident that Brave New Coin’s digital asset infrastructure and capabilities were helping to deliver the best product to users. BNC provided LedgerX with the support to scale our offering in 2021. Further, LedgerX was the first CFTC regulated crypto derivatives exchange, although there seemed to be confusion around this at the time.
LedgerX has received support from several large corporates like Digital Finance Group, Miami International Holdings, Lightspeed Venture Partners, Google Ventures, and SV Angel. LedgerX lately declared that it had chosen Lukka and IHS Markit to develop and deliver Forms 1099-B to their trading consumers. The increasing importance of tax reporting prompted this move as the cryptocurrency space matures further. After the launch of LedgerX in 2017 has evolved to become one of the most pre-eminent Bitcoin Options marketplaces. Moreover, it has received over 10 million options and swap contracts to date.
Follow BitcoinWorld for the latest updates.