Wall Street backed cryptocurrency exchange on the way!
Wall Street is slowly making its way into crypto and they are doing so via ErisX.
In news released today, Chicago based crypto exchange startup ErisX announced that it has received funding from both Nasdaq Ventures and Fidelity Investments.
It wasn't clear on the amount either contributed but the funding round was said to have raised roughly $28 million.
A quote from ErisX:
“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.”
(Source: https://www.ccn.com/nasdaq-fidelity-invest-in-wall-street-crypto-exchange-erisx/)
Awesome! Guess who contributed to the first round of fundraising?
TD Ameritrade and CBOE.
Combine those two with the others mentioned above and that is quite the list of Wall Street heavy weights!
ErisX aims to be one of the largest regulated cryptocurrency exchanges that will offer crypto assets as well as futures and options products, all on the same platform.
Regulated exchanges like this are likely to continue taking over the space as investors find some comfort in the fact they are regulated compared to the many unregulated exchanges that exist currently.
ErisX is expected to launch middle of next year and is hoping to obtain licenses from all 50 states in order to service the entire U.S.
More about it can be found here:
https://www.ccn.com/nasdaq-fidelity-invest-in-wall-street-crypto-exchange-erisx/
Stay informed my friends.
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Wow 😮. Can’t wait for the launch 🚀
It might be a slow next few months, but 6 months from now. Things should start looking pretty good I think.
new day, new wrinkle in crypto land
This could be a big one... especially if the SEC tries to shut down some of the unregulated ones.
Pretty sweet, I actually wanted to invest stocks with Ameritrade. Still looking for a cheap discount broker but this is good.
I like Etrade myself, though Ameritrade isn't bad.
Have you tried Robinhood? If you sign up we will both get free stock: https://bit.ly/2Eeysni
You can trade a few coins on there.
Also check out my blog if you'd like! I post music to dSound
Nasdaq got jealous that NYSE was getting their exchange together :-D!
Possibly! Nasdaq is also launching their own futures market early next year.
Given that IMF announced that they wanted to go full crypto its common sense if Wall Street follows and does their own thing to get into the market
Posted using Partiko iOS
IMF? Do you have a link?
Shit sorry that was wrong info, they said that crypto will replace dollars.
My bad, sorry.
Here’s he link: https://toshitimes.com/international-monetary-fund-suggests-cryptocurrency-could-replace-fiat-currencies/
Posted using Partiko iOS
Ah ok, yea I think I had see that. Creating their own exchange seemed a bit strange to me. :)
Capital continues to pour into the companies supporting and dependent on adoption which leads me to believe it will ultimately be achieved once custody, security and interface are done simply. Only a matter of time... this is smart money so we should follow it!
Posted using Partiko iOS
That is true. There are millions continuing to come in and help build up the infrastructure. Hopefully for our sake, that isn't money wasted. :)
Great News for the crypto space! Thanks for sharing!
Posted using Partiko Android
Sounds similar to Bakkt, which is the intercontineal exchange, it will launch much sooner, more the merrier in my book, lets get this bottom in and back to whats what!
Perhaps, though Bakkt will be launching physically backed futures products, will they also have a cryptocurrency exchange?
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