LedgerX offers first Bitcoin savings account

LedgerX launches the first CFTC-regulated Bitcoin savings product, allows customers to get revenue from their cryptocurrency holdings
16 May 2018   1517

Cryptocurrency holders even when they manage to secure their assets on cold storage or harware wallets, have a significant disadvantage compared to people with fiat accounts in large banks – they don't get revenue from their holdings. LedgerX aims at providing something along these lines with their new savings product.

One of the most popular investing techniques for clients of LedgerX proved to be where person deposits Bitcoin to the company and then sells call option at a slightly longer date, with a higher strike call option. Essentially, the new product mirrors this proceedings but with one-click approach to all the operations. Potentially it allows for the customers to receive a revenue in US dollars for selling the option without all the operations of setting up and selling the option by themselves, reducing the user input to the same of opening the bank account in regular financial institution.

All that the client has to do is to chose how much Bitcoin they want to put into the account and the implied rate they look to earn from the operation. The contracts initially will be available for three and six month duration with LedgerX charging the transaction fee for their services.

The notable thing about the New York company is CFTC approval for operations with cryptocurrency with licenses both for derivatives clearing organization (DCO) and swap execution facility (SEF). It shows that the LedgerX takes clients' security seriously and is operating totally above the law, which is quite important in light of recent CFTC crackdown on unlicensed cryptocurrency companies.

Lightning Labs to Raise $10M

As reported, the raised funds will be allocated to enforce the team with developers and commercial speciaslists
06 February 2020   317

Lightning Labs attracted $ 10 million investment during the A-series financing round, and also introduced a beta version of its payment service for outlets that work with bitcoin.

If bitcoin is going to reach its potential as a viable global currency, it’s going to need to scale beyond the base layer. Similar to how Visa relieves banks from handling all fiat currency traffic, Lightning relieves the base bitcoin chain from handing all transactions, thus bring more speed and fee efficiency to the network.

 

Brian Murray

Managing Director at Craft Ventures

With the help of the raised funds, the company intends to hire more developers and commercial specialists, so that it will be able to convey the applied solutions to users. In 2018, Lightning Labs unveiled a beta version of its LND scaling solution and received $ 2.5 million investment from several investors, including Twitter CEO Jack Dorsey and Litecoin creator Charlie Lee.

Now a beta version of the new Lightning Loop service has been launched, with the help of which outlets can more effectively manage payment channels and maintain liquidity in them. Several customers have already become interested in this tool, including the developer of the Fold shopping application, which processed approximately 1,600 transactions through the Lightning Network during the holidays in 2019.

We’re growing fast and Lightning Labs’ loop service makes it simple to manage our lightning node’s liquidity, letting our team focus on building out great user experiences that bring lightning to the world.

 

Will Reeves

Fold

According to Lightning Labs, this year the company will be developing tools for working with larger payment channels. We are talking about both individual channels, which individually can hold more than $ 1,500, and multidirectional ones, which break down payments into smaller parts.