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Bitmain, Fidelity Investments and others back crypto trading platform ErisX’s Series B round

Dec 05, 2018 12:09 pm UTC

Cryptocurrency trading platform ErisX has raised $27.5 million in its Series B funding round, CoinDesk reported.

Investors include Bitmain, ConsenSys, Fidelity Investments, Nasdaq Ventures, and Monex Group, as well as existing investors CTC Group Investments, Digital Currency Group, DRW Venture Capital, Pantera Capital and Valor Equity Partners.

According to the official release, ErisX will offer an intermediary-friendly, CFTC-regulated futures exchange and clearing organization, as well as a spot market for digital assets. The futures exchange has been already registered while the registration of the clearing organization is currently pending.

“Starting with Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC), the ErisX solution provides trading, deposits and withdrawals on a stable capital markets technology infrastructure,” the official website reads.

“ErisX is a planned offering of Eris Exchange, a CFTC-regulated Designated Contract Market, and Eris Clearing, which has a Derivatives Clearing Organization application pending with the CFTC.”

ErisX will leverage their investors’ strengths, experiences and knowledge in pioneering a single platform for digital asset spot and regulated futures contracts. ErisX CEO Thomas Chippas said that the funding round will enable the firm to “continue building our modern platform and expand our team.”

“The formation of ErisX is an important step in continuing the convergence of digital and traditional asset classes in global institutional financial services,” said Joseph Lubin, CEO of ConsenSys. “We are excited to invest and to be working with the extremely credible team. We look forward to seeing ErisX drive significant growth in institutional flows in both spot and futures digital asset markets in 2019.”

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