MIAX, the parent company of Miami International Holdings, Inc., has successfully finalized its acquisition of LedgerX from Ledger Holdings Inc. This transaction took place as part of the bankruptcy proceedings of cryptocurrency exchange FTX. The move comes amidst a thriving crypto options market, which is the primary domain of LedgerX.
In 2021, FTX US acquired LedgerX as a strategic step towards expanding its derivatives offerings in the United States. LedgerX, a registered entity with the Commodity Futures Trading Commission, was instrumental in seeking regulatory approvals for FTX US to launch a wide range of crypto derivatives directly to users.
Thomas Gallagher, Chairman and CEO of Miami International Holdings, Inc., expressed the significance of the LedgerX acquisition in their growth strategy, stating that it expands their capability to introduce innovative products to the swaps and futures industry. Gallagher emphasized the company’s commitment to operating regulated financial markets in the United States and internationally.
Established in 2014, LedgerX was an early entrant into the cryptocurrency options market. However, the company faced challenges in trading higher volumes. Led by CEO Zach Dexter, LedgerX will now become a part of the MIAX family as they continue to pursue their vision for regulated financial markets.
