ErisX Completes New $28M Investment Round From Nasdaq, Fidelity, Bitmain & Others


On December 4, 2018, ErisX announced the completion of a new successful investment round from Fidelity, Nasdaq Ventures, Bitmain, ConsenSys, amongst other big-name investors.

The round B totaled a reported $27.5 million, which according to ErisX, along with its big-name supporters, will position it to “dominate the digital asset space.”

ErisX recently closed a Series A investment round as previously reported back in October 2018.

Building the modern and compliant platform

CEO of ErisX, Thomas Chippas, noted on the exciting new announcement:

“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,”

 He further explained that the second round of funding allows his company to proceed with the development of the modern platform and the expansion of the development team.

The ErisX digital assets exchange will provide intermediary-friendly futures exchange, which has already been registered with the Commodity Futures Trading Commission (CFTC) and is going to offer Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC).

Furthermore, the company is in the process of registering derivatives clearing organization (DCO), which is said to be the main condition for the launch of the futures contracts trading platform in the second half of 2019.

Besides these two options, ErisX is going to offer its clients a spot cryptocurrency market, scheduled to launch during the Q2 2019.

ErisX also revealed their plans to obtain licenses from all 50 U.S. states, in order to allow trading with fiat currencies to all investors in the country.

Investors realizing the potential

Nasdaq and Fidelity didn’t provide any deeper insights into the motivation behind the investment. However, the CEO of ConsenSys, Joseph Lubin didn’t hide his excitement, saying that ErisX is developing a platform to finally join digital and traditional asset classes to enable the adoption of cryptocurrencies among institutions.

“We are excited to invest and to be working with the extremely credible team,” he added, revealing his belief that ErisX is bound to enable vital growth in institutional investments through spot and futures cryptocurrency trading.

Jihan Wu of Bitmain emphasized the importance of compliance as he mentioned the need of Bitmain’s customers for hedging solutions, speculating that “they would be happy to see US regulatory compliant exchanges like ErisX provide spot and futures contracts in one platform.”

Others recognized the opportunity

ErisX also successfully closed the first round of funding in October, which was backed by some of the formidable names of the financial world, such as TD Ameritrade, Valor Equity Partners, Cboe Global Markets, Pantera Capital, Third Stone Partners, CMT Digital, Susquehanna International Group, etc.

Looking at the caliber of all these companies, we can deduce that financial giants share the belief in the future of the regulated cryptocurrency trading platforms.

To add to that, both Nasdaq and Fidelity already shared their plans to launch crypto-connected products of their own, with the first looking to develop a “regulated crypto 2.0 futures-type contract”, and the latter focusing on the cryptocurrency custody service for institutional traders. 

(Source: ErisX) 

Disclaimer: This is not investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your own research and/or consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.

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