LedgerX, a Bitcoin trading platform, has announced that it has completed swaps and options trades worth over $1,000,000 USD.

Earlier in July, the U.S. Commodity Futures Trading Commission (CFTC) granted Swap Execution Facility (SEF) registration as well as Derivatives Clearing Organization license (DCO) to the company.

In the first week itself, LedgerX saw the trading of 176 swaps and options contracts, with notional values over $1 million, CoinDesk reported.

"This week, a new standard is set for transparency, oversight and counter-party assurance. Institutional investors and traders can now rely on a guaranteed clearing and settlement process when transacting bitcoin contracts,” LedgerX CEO Paul Chou said (as quoted by CoinDesk).

In a blog post, Chou said that the trades were cleared through LedgerX, adding:

“This is the first platform of its kind where you have a unified way to buy and sell BTC via swaps, and monetize the volatility with options. As a clearing house, we guarantee all the trades with the highest standard of oversight possible in partnership with the same US regulator that maintains the integrity of the foreign exchange, gold, and oil derivatives markets.”

Based in New York, LedgerX closed $ 11.4 Million Series B financing round led by Miami International Holdings Inc. and Huiyin Blockchain Venture Investments in May this year.