A Bitcoin savings account option has been launched by LedgerX within the new cryptocurrency asset management platform. It is targeting people who do not want to trade but want to buy and hold the Digital Asset. The LedgerX Savings also allow its investors to earn a yield in fiat on the BTC holding they possess. Moreover, the product is licensed both by CFTC derivatives clearing organization (DCO) license and by a swap execution facility (SEF) license which is essential because the investing technique that LedgerX Savings offer requires both of them.

“Everything we do requires both the licenses. And a lot of that is intentional, because by making it a package deal we can offer a number of services to our customers in a really clear, vertically integrated way.” expressed Juthica Chou, President and co-founder of LedgerX to Forbes.

The above mentioned technique allows people to deposit BTC to LedgerX then set a ‘call option’ at a specified future date. This technique is named ‘call overwrite’ and has been around in traditional financial markets for quite a long time by now. The process is the following: users need to log onto LedgerX’s updated exchange, send some BTC that he/she wants to earn a yield on and choose a percentage of interest desired. The call option contracts are offered for 3 or 6 months duration, and only a small transaction cost applied that is for LedgerX as a service fee.

Chou explained: “This interface will definitely be skewed to the long bitcoin holders who will likely only deposit bitcoin and who will want to earn interest off of that bitcoin.”

