Upcoming Crypto Derivatives Exchange ErisX Opens New Public Spot Market as Part of Strategic Roadmap

The cryptocurrency exchange ErisX has decided to keep expanding by launching a spot market. The company informed that they will be immediately supporting dollar trading pairs with Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC) and Ethereum (ETH). There will also be Bitcoin trading pairs against other virtual currencies. The information was released by ErisX on Twitter on April 30.

ErisX Launches Spot Market

During a conversation with CoinDesk, Matt Trudeau, the Chief Strategy Officer of ErisX, explained that the platform will be including its exchange and clearinghouse. At the same time, he said that this is the first component of their overall corporate strategy for 2019.

According to CoinDesk, the firm is currently talking with several companies to trade on its platform, however, there is no information regarding which firms are going to be working with ErisX. One of the te companies that could be testing the exchange is the U.S. retail brokerage TD Ameritrade.

ErisX continues to build its own technology and strategy for the current year. Trudeau explained that there is a process to build up a new market and that technology must be deployed. In order to do so, ErisX was able to gather $20 million in a funding round. Some of the participants were Arc Light Securities, Dragonfly Capital Partners, CBOE Global Markets, DRW Venture Capital, Pantera Capital, and many others.

Back in December 2018, the firm was able to raise $27.5 million in a Series B funding round. However, CoinDesk explains that it is not clear how much ErisX was able to raise up to date.

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