Nasdaq Ventures and Fidelity Investments led the second round investment cryptocurrency exchanges ErisX. At the end of the round platform has managed to raise $27.5 million; it also took part manufacturer mining equipment Bitmain and company for the development of the Ethereum blockchain ConsenSys.
CEO ErisX Thomas Chippas (Thomas Chippas) commented on the importance of the interest of big companies as well as briefly told about the purpose of capital raised:
“Taking advantage of the growing financial support leading companies, ErisX intends to provide institutional market participants and individual investors the most robust, reliable, and [fully] relevant regulations, the proposal for the cryptocurrency. The completion of the second round of investment will allow us to continue to develop our platform and to increase the staff”.
At launch ErisX will be available the actual crypto currencies, and futures contracts on them. Originally in the portfolio of the exchange will include BTC, ETH, BCH and LTC. In the second quarter of 2019, the platform will start trading spot FX contracts; until next year, the exchange hopes to obtain a license to the Commission on trade commodity futures U.S. (CFTC) for clearing of derivatives and to increase the range of traded products. In addition, ErisX started working on obtaining licenses in all States of the United States, to traders throughout the country could use a Fiat currency in the bidding process.
Bitmain CEO Wu Jihan (Jihan Wu) positively assessed the prospects of the exchange:
“Many of our customers are looking for different hedging options and would welcome the availability of spot and futures contracts on a single platform owned by exchange type ErisX operating in full accordance with the laws of the United States. We are confident that our customers will see how profitable this strategic cooperation.”
ErisX managed to get funding from large companies with wall street in the first round. Among the first investor exchange consists of brokerage firm TD Ameritrade, trading company Virtu Financial and exchange Cboe.
Nasdaq and Fidelity are working on their own cryptocurrency products: Fidelity announced a custodial platform for digital assets, and the Nasdaq is set to launch futures on bitcoin in the next year.