LedgerX, the bitcoin derivatives trading provider, claims that it witnessed a record amount of trading over the course of past 2 Months. The company (in July alone) cleared $50 Million in derivatives volume, claimed Juthica Chou, chief risk officer and president, to the media in an interview. Previously this month, the company also executed its biggest trade till date worth $15,000.
Partially in response to elevated client requirement, LedgerX rolled out a new bitcoin buying system previous month. Dubbed as one-click bitcoin, the platform acts as a “one-stop store” for high net-worth or institutional customers to purchase bitcoin effortlessly via a federally-controlled platform, claimed Chou. The platform is developed on top of the Ledger Savings platform, which the firm launched in May 2018. The requirement for this kind of service is high, claimed Chou.
“One-click bitcoin was a though that came from a lot of the client requirement, which we have seen. I think it is showing that options and derivatives are really helpful for long-term goods and they can provide top-notch solutions to a broad series of participants,” she claimed.
On a similar note, LedgerX earlier rolled out a new bitcoin savings product targeted at catering to bitcoin investors who wish to buy bitcoins. The first bitcoin savings accounts offered by a firm with 2 different licenses for CFTC permit investors to get a yield on their bitcoin holding. Rather than just sitting on the cryptocurrency and expecting it elevates by value, the LedgerX Savings service allows investors do what is dubbed as call overwrite.
The investing method, where an individual deposits bitcoin to the firm then trades a call option with a higher option at a vaguely longer date, has established to be one of the most popular services used by the New York City-located startups with the present options service.