Crypto Exchange ErisX Raises $27.50 mln. Funding From Nasdaq, Fidelity
Newly launched cryptocurrency exchange ErisX said Tuesday that investors including Fidelity Investments and Nasdaq Ventures have poured in a total of US$ 27.5 million into its project.
ErisX says it will offer investors with the capability to trade the Bitcoin, Litecoin and ether cryptocurrencies on the spot and in future markets from 2019, subject to regulatory approval.
Cryptocurrencies are virtual tokens which can be utilized in a range of online applications as a payment method. They can also be exchanged on online dedicated exchanges. Nasdaq and Fidelity affirmed that they have invested in ErisX, but have denied to comment. Fidelity said that this was an investment by the company and not connected to its mutual funds.
ErisX Chief Executive Officer Thomas Chippas revealed that the investments will be utilized to hire staff and “build out our infrastructure and secure the appropriate steps are taken to develop a regulated market for digital assets.”
The Chicago-based company closed its first investment round in October, which included TD Ameritrade Holding Corp, Valor Equity Partners, and Cboe Global Markets Inc.