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Fidelity, Nasdaq Ventures invest in cryptocurrency exchange ErisX

Reuters  |  NEW YORK 

(Reuters) - New exchange said Tuesday it raised a total of $27.5 million from investors including and Ventures.

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 They can also be traded on

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 and secure the appropriate steps are taken to develop a regulated market for digital assets," said in a statement.

The Chicago-based company closed on a first round of investment in October, which included funding from TD Ameritrade Holding Corp, private equity firm and

(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.)

First Published: Tue, December 04 2018. 19:04 IST