This week the firm Ledgerx announced the soft launch of its ‘Ledgersavings’ platform, a new service that allows users to deposit bitcoin core (BTC) and accrue interest on the deposit over a variety of maturation periods. The CFTC-regulated company explains the new savings program will allow clients to gain an annualized return of roughly 16 percent, even when crypto-markets are not appreciating.
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Ledgerx Launches Ledgersavings
Last May, the US Commodity Futures Trading Commission (CFTC) regulated digital currency clearinghouse and options exchange, Ledgerx, announced the company had plans to launch a savings program for BTC. The firm has been trading a lot of BTC derivatives over the past few months and Paul Chou, the CEO at Ledgerx, announced the official soft launch of Ledgerx savings on August 3. Chou says it is the first major service launch since the company started the digital currency options business.
“I’m excited to announce the soft launch of Ledgersavings, the first major new service since we launched Ledgerx late last year,” Chou details. “The first transaction was completed a few weeks ago and yielded the client a 15% per annum return on their Bitcoin for the next 6 months, even if Bitcoin depreciates or stays at current levels. This is a powerful use case in market conditions where Bitcoin is not appreciating.”
The First CFTC-Regulated Digital Currency Savings Options Allow Ledgerx Clients to Collect Interest on Idle Funds
Because BTC prices are volatile, the rate for a 2x strike call option for Ledgersavings is 16 percent annualized. Investors can opt for 3-month, 6-month, and 12-month maturities with interest paid out in USD. According to Ledgerx, the company holds the digital
