Wall Street is slowly making its way into crypto and they are doing so via ErisX.
In news released today, Chicago based crypto exchange startup ErisX announced that it has received funding from both Nasdaq Ventures and Fidelity Investments.
It wasn't clear on the amount either contributed but the funding round was said to have raised roughly $28 million.
A quote from ErisX:
“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. Closing this second round of funding enables us to continue building our modern platform and expand our team.”
(Source: https://www.ccn.com/nasdaq-fidelity-invest-in-wall-street-crypto-exchange-erisx/)
Awesome! Guess who contributed to the first round of fundraising?
TD Ameritrade and CBOE.
Combine those two with the others mentioned above and that is quite the list of Wall Street heavy weights!
ErisX aims to be one of the largest regulated cryptocurrency exchanges that will offer crypto assets as well as futures and options products, all on the same platform.
Regulated exchanges like this are likely to continue taking over the space as investors find some comfort in the fact they are regulated compared to the many unregulated exchanges that exist currently.
ErisX is expected to launch middle of next year and is hoping to obtain licenses from all 50 states in order to service the entire U.S.
More about it can be found here:
https://www.ccn.com/nasdaq-fidelity-invest-in-wall-street-crypto-exchange-erisx/
Stay informed my friends.
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