LedgerX Forges Partnership with BitGo
New York City and Palo Alto, March 17, 2020 — LedgerX LLC (LedgerX), the first federally regulated cryptocurrency derivatives exchange, announced today that it has selected BitGo, the market leader in digital asset financial services, to provide multi-signature wallet services. It also has also agreed to work with BitGo Trust, the first qualified custodian purpose-built for storing digital assets, to provide LedgerX’s customers with coverage under its crypto wallet custody insurance program.
“Cryptocurrency derivatives are experiencing a significant amount of growth,” said Pete Najarian, Chief Revenue Officer of BitGo. “We’re pleased to be able to provide best-of-class support to LedgerX, which is emerging as an important participant in this asset class within the U.S.”
In commenting on the agreement, Zach Dexter, Chief Executive Officer and President of LedgerX added: “BitGo has been on the forefront of providing mature, third-party solutions for digital assets that set the highest industry standards. We’re also delighted to be working with BitGo Trust. Now more than ever, our customers want modern security for modern assets.”
BitGo is the leader in digital asset financial services, providing institutional investors with liquidity, custody, and security solutions. BitGo processes over 20% of all global Bitcoin transactions, and supports over 250 coins and tokens. BitGo’s customer base includes the world’s largest cryptocurrency exchanges and spans more than 50 countries. In 2018, it launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets. BitGo is backed by Craft Ventures, Digital Currency Group, DRW, Galaxy Digital Ventures, Goldman Sachs, Redpoint Ventures, and Valor Equity Partners.
Founded in 2013, LedgerX offers Mini contracts, which trade in increments of 0.01 bitcoin and are available to all US residents. It also features an easy-to-use site for individual traders that is optimized for mobile trading, as well as a live order book that is open 24x7x365.
LedgerX is a federally regulated exchange and clearinghouse that lists and clears fully collateralized, physically settled bitcoin swaps and options. The U.S. Commodity Futures Trading Commission (CFTC), which regulates virtual currency derivatives, oversees LedgerX’s registration as a designated contract market (DCM), swap execution facility (SEF) and derivatives clearing organization (DCO).