ErisX Crypto Exchange Secures $27.5 Million Funding

Dec 05, 2018 at 19:07

Newly-established crypto exchange ErisX announced that it has solicitee at least $27.5 million from investors including Fidelity Investments and Nasdaq Ventures.

According to a report from Reuters, the Chicago-based company will allow investors to trade Bitcoin, Litecoin and Ethereum on spot and futures markets starting next year, subject to regulatory approval.

Despite confirming the deal, Nasdaq and Fidelity declined to specify the involved amount.

“(The investments will be used to hire staff and) build out our infrastructure and secure the appropriate steps are taken to develop a regulated market for digital assets,” Thomas Chippas, ErisX chief executive officer, said in a statement.

It can be recalled that last October, the company also secured funding from retail brokerage TD Ameritrade Holding Corp. aside from private equity firm, Valor Equity Partners and Cboe Global Markets Inc.

Notably, Nasdaq has been actively involved in several crypto trading products. Last month, it partnered with VanEck to come up with crypto financial products, including a regulated crypto 2.0 futures-type contract starting the first quarter of 2019.

Likewise, Nasdaq also teamed up with American software giant, Microsoft to integrate the Azure Blockchain technology in the stock exchange’s financial framework.