The parent company of bitcoin options exchange operator LedgerX has raised $11.4m in a Series B funding round.

The round for Ledger Holdings was led by Miami International Holdings and Huiyin Blockchain Venture Investments, the startup announced this morning. MIH is the parent company of Miami International Securities Exchange, LLC, an options exchange operator. Huiyin Blockchain Venture is a subsidiary of investment conglomerate Huiyin Group, launched last year with tens of millions of dollars worth of backing.

The round comes as LedgerX awaits final approval from the Commodity Futures Trading Commission (CFTC) for its bitcoin options trading service. It first received temporary approval from the agency – which regulates bitcoin and other digital currencies as kinds of commodities – in late 2015.

In statements, representatives for the firm highlighted the regulatory push, indicating that the funding would, in part, support those efforts.

LedgerX CEO Paul Chou said in a statement:

“In the short term, these investments will further our application to become a regulated exchange and clearing house for bitcoin options. In the long term, these strategic investors will help us enter additional marketplaces and territories.”

The startup previously raised $1.5m in seed funding from a group that included Google Ventures and Lightspeed Venture Partners.

Image via Shutterstock