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ErisX to function as crypto futures exchange and clearing house

Crypto exchange ErisX has raised $27.5 million from Fidelity Investments and NASDAQ Ventures, among other investors.NASDAQ has been the world’s renowned stock exchange, while the United States investment firm Fidelity administers over $7.2 trillion in client assets.

ErisX offers both futures markets as well as spot trading for Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC), seeking approval from pending regulatory norms, as per Reuters reports.

Well, with a pending license as a clearing organization with the U.S. Commodity Futures Trading Commission (CFTC), ErisX has now gained backing from reputed names, such as, DRW Venture Capital, Pantera Capital, Virtu Financial, NEX Opportunities, TD Ameritrade (AMTD), Digital Currency Group, and CBOE Global Markets.

This capital financing would aid the company accelerate the development of the intermediary-friendly, CFTC-regulated futures exchange (registered) and clearing organization (registration pending).

The crypto trading platform (ErisX) operates as a spot market for digital assets. Thomas Chippas, CEO, divulged his intentions to utilise the funds for expansionary objectives.

“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,”he added.

ErisX is a U.S.-based futures exchange to offer cash-settled swap futures for ideal replacement to traditional OTC swaps. Joseph Lubin, ConsenSys chief executive officer said, the venture provides an access for new opportunities in the cryptocurrency trading industry.

Currency Strength Index: FxWirePro's hourly BTC spot index has shown -156 (which is highly bearish), while USD is flashing at 51 (bullish), while articulating at 08:30 GMT. 

For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex

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