FTX.US – the affiliate from America of Sam Bankman-Fried’s crypto exchange FTX – is reportedly finalizing the acquisition of crypto derivatives platform LedgerX, for an undisclosed sum. 

Specifically, the entity having possession over FTX.US – West Realm Shire Services – reportedly revealed details of the completion of a sale-and-purchase agreement, regarding the acquisition of LedgerX’s parent firm – Ledger Holdings. 

The agreement only needs to obtain the satisfaction of customary closing conditions before it can officially be finalized, per the company. 

LedgerX reportedly functions as a digital currency futures and options exchange, falling under the regulation of Commodity Futures Trading Commission, Swap Execution Facility, and Derivatives Clearing Organization.

The platform reportedly caters to retail and institutional investors, offering to facilitate features for crypto futures trading, utilizing the physical settlement of all contracts.

The acquisition will reportedly have zero effects on LedgerX’s operations, material-wise since the platform will keep on rolling out its existing offerings to the current client demographic. 

The deal will reportedly equip FTX.US with the power to make BTC and Ether-based options and futures contracts available to institutional and retail investors, majorly widening the scope of its spot trading services.

“We believe the integration of our technological capabilities, product portfolio, and large balance sheet with LedgerX will enhance our ability to provide innovative products to all US cryptocurrency traders,” FTX.US president Brett Harrison additionally remarked.