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Institutional Solutions Fidelity Digital Assets has expanded its trading platform by adding crypto exchange ErisX.
The Boston-based venture is now offering its clients a platform to store and trade bitcoin across various venues, which have only included market-making trading firms. Eris X is the first exchange added onboard. Fidelity is an equity investor in the Chicago-based firm.
"ErisX is the first exchange that Fidelity Digital Assets has onboarded," a spokeswoman for Fidelity told The Block in an email.
Meanwhile, ErisX is working on other integrations with large brokers, including Wedbush Securities and TDAmeritrade. Thomas Chippas, CEO of ErisX, said that they believed in the “crypto ethos of accessibility to all on equal terms and about leveling the playing field for everyone.”
The addition of ErisX comes at a time when the firm has been experiencing a surge in its business operations. According to people familiar with the matter, Fidelity has been fielding an increase in inbounds from pension funds, family offices, and macro global hedge funds because investors are seeking new investment opportunities amid the coronavirus outbreak.
“From a trading perspective, we continue to onboard new clients every month and are seeing significant pipeline growth,” a spokeswoman for Fidelity said. “And in recent weeks, we've seen more momentum across our business, for example, discussions around store of value and digital gold are resonating more with investors.”
In January, ErisX announced that it also partnered with software firm Etale, to enable members to view real-time market data and manage account balances and order execution using either Etale’s front end or API.
“We are thrilled to be working with ErisX and believe they are setting the bar for traders and inestors in the digital assets space,” said Matthew Cushman, CEO of Etale. “Their familiar infrastructure for institutional investors, unified platform for sot and regulated futures as well as state and federal licenses to help protect market integrity make the ErisX offering an attractive marketplace.”
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