LedgerX has announced that former CFTC Commissioner Mark Wetjen will be joining the Ledger Holdings Inc. Board of Directors.
“I am excited to participate in the evolution of the Bitcoin asset class with a firm that is building institutional-grade trading and clearing capabilities under a regulatory framework,” said Mark Wetjen. “LedgerX is taking an approach that I support and is building a team that I am proud to join. I am honored to be associated with such a credible and experienced set of professionals.”
CEO of LedgerX, Paul L. Chou, sees immense potential and advantages from adding Mark to their Board of Directors as well.
“Mark brings a unique combination of market acumen, regulatory expertise and discerning interest in the evolution of the Bitcoin market. Mark has been an early advocate of Bitcoin derivatives regulation, and we are excited to have him on the board.”
LedgerX is preparing itself for big things. As stated before, once LedgerX receives all the necessary legal approvals it will become the first exchange vehicle in which major corporations and even Wall Street investors could trade and exchange Bitcoin derivatives.
LedgerX is a platform founded in December 2013 by their parent company Ledger Holdings Inc. LedgerX aims to be the first U.S regulated derivatives exchange and clearing house that institutions would use to trade physically-settled options on Bitcoin.
Since its launch, LedgerX has applied for both a SEF (Swap Execution Facility) and DCO (derivatives clearing organization). While the CFTC has approved a temporary license for LedgerX for their SEF application on September 10th, 2015, there is no word yet still on the DCO application.