Posted on December 4, 2018 by staff

Nasdaq among investors to back new crypto exchange


ErisX has reportedly raised a total of $27.5 million from investors including Fidelity Investments and Nasdaq Ventures.

The new cryptocurrency exchange will offer investors the ability to trade Bitcoin, Litecoin and Ether on spot and futures markets starting next year.

However, this is subject to regulatory approval.

In a statement seen by Reuters, CEO Thomas Chippas said the investments will be used 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 funding round in October, which included investment from retail brokerage TD Ameritrade Holding Corp, private equity firm Valor Equity Partners and Cboe Global Markets.

Nasdaq confirmed that it had participated in the round but did not confirm how much it had invested.

In October, ErisX announced three key hires to the firm: Kelly Brown as chief commercial officer, Liz James as head of clearing and Michael Piracci as senior counsel.