Digital asset trading platform ErisX is one step closer to building a one-stop shop for all your crypto trading needs.
In addition to closing $20 million in Series B funding, the company announced today that it has publicly launched its spot market for trading cryptocurrencies. The market will support dollar trading with bitcoin, bitcoin cash, litecoin and ethereum.
ErisX plans to launch a futures trading market, which would allow traders to speculate in the future of crypto, by the end of the year — although that launch still depends on approval from the Commodity Futures Trading Commission.
In a statement issued by the company on Tuesday, CEO Thomas Chippas said the company took its time to ensure it had all its ducks in a row before the initial launch.
“We took a disciplined and methodical approach to the launch of the ErisX spot market. As experienced market professionals we know that a launch such as this is a process, not a one-off event,” he said. “We are moving from an initial phase to a public launch, and will continue to work with our partners, investors, and regulators to expand access.”
ErisX launched in 2018 in Chicago to create a fully regulated market place for oft-volatile digital assets. We named them amoung our 50 Chicago Startups to Watch for this year, and the spot market launch appears to only be the first in a wave of big announcements.
The company has raised $47.5 million total in funding. The latest funding round involved 15 investors, including Arc Light Securities, Castle Island Ventures, Dragonfly Capital Partners, Flow Traders Tradestation and New York Digital Investment Group among others.
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