Fidelity, Nasdaq in $27.5mn crypto spot market investment

ErisX announced the closing of Series B funding from investors spanning the traditional capital and digital asset markets including Bitmain, ConsenSys, Fidelity Investments and Nasdaq Venture. ErisX will operate an intermediary-friendly, CFTC-regulated futures exchange (registered) and clearing organization (registration pending), as well as a spot market for digital assets. The idea is to have a single platform for digital asset spot and regulated futures contracts.

The new investors are part of an earlier group that includes DRW Venture Capital, Valor Equity Partners, TD Ameritrade, Virtu Financial, 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.

“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,” said Jihan Wu of Bitmain in a statement. The funding round raised $27.5 million, according to Reuters.

Read the full release

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