LedgerX Signs Brave New Coin for Crypto Product Push

Digital currency futures and options exchange and clearinghouse LedgerX says it will use digital asset data infrastructure company Brave New Coin’s high-frequency bitcoin and Ethereum price feeds for its perpetual products, which it intends to submit to the US Commodity Futures Trading Commission (CFTC) for its review and approval.

LedgerX was the first CFTC regulated cryptocurrency derivatives exchange, and is backed by Digital Finance Group, Lightspeed Venture Partners, Miami International Holdings, Google Ventures, and SV Angel. The firm says it will be seeking the CFTC’s review and determination that all regulatory requirements pertaining to perpetuals are satisfied, including product, trading, clearing and all other relevant areas.

“The industry has been anticipating the launch of additional LedgerX products, and for good reason, says Fran Strajnar, founder of Brave New Coin. “We believe LedgerX will be able to out-innovate the legacy competitors, [and] look forward to continued work with LedgerX to ensure its exchange has access to the best digital asset data in the sector.”

Zach Dexter, CEO at LedgerX, adds, “As we started developing perpetual products, it became clear to us that Brave New Coin’s digital asset infrastructure and capabilities were key to helping us deliver the best product to our users. BNC has offered us the support we need as we scale up our offering in 2021.”