Major US-regulated cryptocurrency exchange FTX US has officially finalised the acquisition of Ledger Holdings Inc — the parent company of LedgerX, LLC.
With the completion of the sale and purchase agreement for this acquisition, LedgerX has now been rebranded as FTX US Derivatives.
The completion of this acquisition is just the first step of many to provide the FTX US user base with access to the best products on the market. It should also be seen as a pivotal moment for FTX US as we continue to execute on our strategy to bring regulated crypto derivatives to our US user base.
We believe the integration of the two organizations provides us with not only a technological advantage, but also furthers our working relationship with the regulatory community in a positive, constructive and transparent manner.
Brett Harrison, President of FTX US
FTX US will also gain a CFTC regulated Designated Contract Market (DCM), Derivatives Clearing Organization (DCO), and Swap Execution Facility (SEF) — which both retail and institutional investors will have 24-hour access to. Institutional investors get to enjoy block trading and algorithmic trading opportunities as well.
“As the regulatory environment in the crypto ecosystem continues to evolve, we look forward to acting as a resource and an example of how the protections afforded by proper regulatory oversight and licensing can boost consumer confidence and facilitate safe and reliable exchange platforms. The most important facet of this acquisition of LedgerX is that it allows us to do that.” said Zach Dexter, FTX US Derivatives CEO.
Dexter commented that the FTX US Derivatives will keep working hard to be a part of the regulation conversation, as well as ensuring that the operation standards always meet the CFTC requirements.
LedgerX’s operations will not experience any material impact in consequence of the acquisition, continuing to provide its current offerings to its existing clients.
