Cryptocurrency News

Crypto Platfrom ErisX Raises $27 Million from Fidelity, Nasdaq and Others

Crypto Platfrom ErisX Raises $27 Million from Fidelity, Nasdaq and Others

According to a report by Reuters, Crypto exchange ErisX has raised over $27.5 million in its series B funding round from various investors including Bitmain, ConsenSys, Fidelity Investments, Nasdaq Ventures, and Monex Group.

Awaiting Regulatory Approval

After getting the regulatory approval from the concerned authorities, ErisX will start offering both spot trading in Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC), in addition to futures markets in 2019.

According to Chief Executive Officer Thomas Chippas:

“With increasing financial support from leading-edge firms, ErisX stands to provide the most robust, secure and regulated digital asset offering available to both institutional and individual participants. Closing this second round of funding enables us to continue building our modern platform and expand our team.”

Nasdaq has confirmed their contribution to Reuters without disclosing the exact amount, while Fidelity has not reverted to Reuters’ requests. CTC Group Investments, Digital Currency Group, DRW Venture Capital, Pantera Capital and Valor Equity Partners also participated in the funding.

“Many of our customers have been seeking various hedging solutions and would be happy to see US regulatory compliant exchanges like ErisX provide spot and futures’ contracts in one platform. We are confident that our customers will find this strategic partnership beneficial.” according to Jihan Wu of Bitmain.

“The formation of ErisX is an important step in continuing the convergence of digital and traditional asset classes in global institutional financial services. We are excited to invest and to be working with the extremely credible team. We look forward to seeing ErisX drive significant growth in institutional flows in both spot and futures digital asset markets in 2019.” said ConsenSys CEO Joseph Lubin.

Launch in 2019

According to the firm’s official website, spot contracts will be launched sometime in Q2 of 2019, while futures contracts will be launched in the second half of the year. The Chicago-based firm closed on its series A funding round back in October, which included funding from TD Ameritrade Holding Corp, private equity firm Valor Equity Partners and Cboe Global Markets Inc.

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