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Reportedly, a new cryptocurrency stock has raised $ 27.5 million from investors including NASDAQ Ventures and Fidelity Investments. The platform will offer cryptocurrency trading on spot and future markets starting next year.
The bear market does not matter
Apparently displaced by the current bleeding conditions of the cryptocurrency market, Fidelity Investments and NASDAQ Ventures took part in a financing phase of the new ErisX cryptocurrency exchange. The total amount collected is $ 27.5 million, Reuters relationships.
According to the report, Nasdaq has already confirmed its participation while Fidelity has yet to respond to requests for comment.
The new cryptocurrency exchange will allow investors to exchange Bitcoin (BTC) 00, Litecoin (LTC) 00and Ether (ETH) 00 on both spot and forward markets. The launch is scheduled for 2019 following regulatory approval.
Speaking on the issue was Thomas Chippas, CEO of ErisX, who noted that investments will be used "to build our infrastructure and ensure appropriate measures for the development of a regulated market for digital resources" and to hire staff.
It is worth noting that Chippas, according to his LinkedIn profile, comes from the banking sector and a former CEO of Citi and Barclays.
Bitcoin's future is
Nasdaq's involvement in ErisX comes just a few days after renewing its bid to offer Bitcoin futures despite the current price of BTC 00 drop.
Bitcoinist on 27 November NASDAQ "worked to meet the concerns of the main US swap regulator, the Commodity Futures Trading Commission (CFTC), before starting the contracts".
Fidelity's participation in ErisX also makes sense, as the asset manager has recently stated that it will not open its exchange, but will instead focus on providing Bitcoin custody solutions.
However, at the beginning of October, the company also stated that it intends to open cryptocurrency trading to its 27 million customers, so perhaps this falls in line with their involvement in ErisX's latest round of investments.
What do you think about the involvement of Fidelity and Nasdaq in ErisX? Do not hesitate to let us know in the comments below!
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