NEW YORK (Reuters) - New cryptocurrency exchange ErisX said Tuesday it raised a total of $27.5 million from investors including Fidelity Investments and Nasdaq Ventures.
ErisX says it will offer investors the ability to trade the cryptocurrencies bitcoin, litecoin and ether on spot and futures markets starting next year, subject to regulatory approval.
Cryptocurrencies are virtual tokens that can be used as forms of payments on a variety of online applications. They can also be traded on dedicated online exchanges.
Nasdaq and Fidelity confirmed they invested in ErisX, but declined to comment further. Fidelity said this was a corporate investment and not related to its mutual funds.
The investments will be used to hire staff and "build out our infrastructure and secure the appropriate steps are taken to develop a regulated market for digital assets," ErisX Chief Executive Officer Thomas Chippas said in a statement.
The Chicago-based company closed on a first round of investment in October, which included funding from retail brokerage TD Ameritrade Holding Corp, private equity firm Valor Equity Partners and Cboe Global Markets Inc.
(Reporting by Elizabeth Dilts; Editing by Frances Kerry)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app