The father or mother firm of bitcoin choices alternate operator LedgerX has raised $11.4m in a Series B funding spherical.
The spherical for Ledger Holdings was led by Miami International Holdings and Huiyin Blockchain Venture Investments, the startup introduced this morning. MIH is the father or mother firm of Miami International Securities Exchange, LLC, an choices alternate operator. Huiyin Blockchain Venture is a subsidiary of funding conglomerate Huiyin Group, launched final 12 months with tens of millions of dollars price of backing.
The spherical comes as LedgerX awaits final approval from the Commodity Futures Trading Commission (CFTC) for its bitcoin choices buying and selling service. It first obtained temporary approval from the company – which regulates bitcoin and different digital currencies as kinds of commodities – in late 2015.
In statements, representatives for the agency highlighted the regulatory push, indicating that the funding would, in half, assist these efforts.
LedgerX CEO Paul Chou mentioned in an announcement:
“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 beforehand raised $1.5m in seed funding from a gaggle that included Google Ventures and Lightspeed Venture Partners.
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