FTX US Completes Acquisiton of LedgerX

Fazzaco learned that the leading US-regulated cryptocurrency exchange West Realm Shire Services Inc. (FTX US) has closed the acquisition of Ledger Holdings Inc., parent company of LedgerX LLC. (LedgerX), a Commodity Futures Trading Commission (CFTC) regulated digital currency futures & options exchange and clearinghouse. The acquired firm has been rebranded as FTX US Derivatives after the transaction.

The deal provides FTX US with a CFTC regulated Designated Contract Market (DCM), Swap Execution Facility (SEF), and Derivatives Clearing Organization (DCO), which will be available to retail and institutional investors 24/7, and offer block trading and algorithmic trading opportunities for institutional investors. LedgerX will continue to deliver its current services to its existing clients, reportedly.

"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, commented on the acquisition.