Crypto Derivatives Platform ErisX Raises $27.5 Million From Bitmain, Fidelity and Nasdaq Ventures

Chicago-based crypto buying and selling platform ErisX has closed a Series B funding spherical that raised $27.5 million, the corporate anounced on Tuesday, December 4.

Funding comes from an influential group of traders spanning the normal capital and digital asset markets together with Bitmain, ConsenSys, Fidelity Investments, Nasdaq Ventures and TradeStation Securities’ dad or mum firm, Monex Group Inc.

Nasdaq confirmed their participation to Reuters with out specifying the quantity of their contribution, whereas Fidelity has not responded to requests for feedback by press time.

The new traders are a part of an earlier group that noticed a void available in the market; together with DRW Venture Capital, Valor Equity Partners, TD Ameritrade (AMTD), Virtu Financial (VIRT), NEX Opportunities, Cboe Global Markets (CBOE), CTC Group Investments, Digital Currency Group, Nico Trading, Pantera Capital, Third Stone Partners, CMT Digital, Susquehanna International Group, XR Trading, C2 Capital Management and ED&F Man Capital Markets Inc.

Led by Chief Executive Officer Thomas Chippas, Chief Commercial Officer Kelly Brown and Head of Clearing Liz James, amongst different derivatives and digital asset consultants, ErisX will function an intermediary-friendly, CFTC-regulated futures change (registered) and clearing group (registration pending), in addition to a spot marketplace for digital belongings.

“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,” stated Chippas. “Closing this second round of funding enables us to continue building our modern platform and expand our team.”

ErisX added that the corporate will leverage their traders’ strengths, experiences and information in pioneering a single platform for digital asset spot and regulated futures contracts.

“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,” stated Jihan Wu of Bitmain. “We are confident that our customers will find this strategic partnership beneficial.”

According to ErisX’s website, the platform expects to launch spot contracts someday in Q2 of 2019, with futures contracts following within the second half of the 12 months.

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