SolidX trying to meet Wall Street’s requirements

SolidX, a New York based firm, makes bitcoin markets accessible to hedge funds and asset managers. It raised USD 3 million in funding in October, 2014.

Its core business is to issue total-return bitcoin swaps to the clients. Without actually holding bitcoins, the buyers of the swap are able to obtain bitcoin's price moves throughout the duration of the swap, that is, bitcoins are made available to the asset managers in a way they are familiar with.

SolidX CEO Daniel H. Gallancy and President David S. Lehmann said in a conversation with Digital Currency Magnates that their clients also see potential in the underlying blockchain technology.

The company not only tries to positions itself as a swaps provider to meet Wall Street's requirements for trading bitcoins, but also aims to be part of the blockchain technology implementation in the financial world.