Bitcoin options contracts to be launched in September

LedgerX LLC, a cryptocurrency trading platform operator, just received approval from the US Commodity Futures Trading Commission (CFTC) to operate as a federally-regulated exchange and clearing house for derivatives contracts settling in digital currencies, Bloomberg reports.

LedgerX CEO Paul Chou said in a telephone interview that the company plans to launch one to six month bitcoin-to-dollars options contracts in late September to early October.

Chou noted: “We want to keep it to a certain size in the beginning before we scale up over the next couple of months. We’re getting people that want to hedge and people that want exposure to a new asset class that they can add to their portfolio and help diversify, and get potential upside of potential digital currency.”