Article By Chris Perrotta
It has been reported that Fidelity and Nasdaq have chosen to take a deeper dive into the cryptocurrency markets with their recent investment into crypto exchange ErisX.
ErisX has announced they have secured $27.5 million in funding, which was headed by Nasdaq Ventures and Fidelity Investments. The amounts invested from each company was not disclosed. In addition to those two companies, Bitmain and ConsesSys (Ethereum development studio) participated in the funding round.
ErisX aims to be “the most secure and regulated digital asset exchange for both institutional and retail investors.” They will be offering trading through futures contracts and spot trading for Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC). By Q2, they expect the spot contracts to begin trading and once they get CFTC approval to operate as a Derivatives Clearing Organization (DCO) they will begin trading the futures contracts later in the year. They also plan to obtain all 50 individual state licenses in order for any U.S. citizen to trade using fiat currency.
“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.” Thomas Chippas, ErisX CEO