Crypto Startup ErisX Gets $27.5 Mln Funding Incl. From Fidelity, Nasdaq Ventures

Chicago Cryptocurrency Startup ErisX said it raised $27.5 million from investors including Fidelity Investments, Nasdaq Ventures and Bitmain, among others. The exchange is expected to launch a “fair and transparent platform” in the digital asset space.

In a statement, ErisX announced the closing of Series B funding from an influential group of investors, which also includes ConsenSys and TradeStation Securities’ parent company, Monex Group Inc. The company also would receive additional support from existing investors.

The company had closed its first round of investment in October, which included funding from retail brokerage TD Ameritrade Holding Corp, private equity firm Valor Equity Partners and Cboe Global Markets Inc, Reuters reported.

With the investments, ErisX said it will operate an intermediary-friendly, CFTC-regulated futures exchange, which is registered, and clearing organization, for which registration is pending. It will also operate a spot market for digital assets.

The new exchange is expected to support bitcoin, litecoin, and ether trading on spot. It will also list crypto futures contracts beginning next year.

Jihan Wu of Bitmain said, “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.”

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