ErisX’s crypto Spot Market platform goes live in the $20 million funding round
|- ErisX spot market launches with BTC, BCH, LTC and, ETH US dollar trading pairs.
- ErisX derivative trading awaits regulatory approval; futures trading expected in the near future.
The company that that is looking forward to offering cryptocurrency derivatives, ErisX has today announced the launch of a crypto spot market. The spot market has gone live with dollar trading pairs including Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC) and Ethereum (ETH). In addition to the dollar pairs, there are Bitcoin pairs with other digital assets.
The exchange company said that various companies have already signed up to trade on the platform, however, the identities of the companies were not revealed. According to CoinDesk, the chief strategy officer of ErisX, Matt Trudeau said that at the time of launch both the exchange platform and the clearinghouse were released.
“The spot market is really the first component of our overall corporate strategy of what we’re looking to do in 2019.”
The chief strategy officer downplays the launch of the spot market saying that it is only the beginning of the huge roadmap the company has outlined. ErisX is working on crypto derivatives; likely to launch next after approval is granted from the regulatory authorities. Trudeau said in a comment regarding the application process:
“We are engaged in an active dialogue with the CFTC and appreciate the staff’s diligence in reviewing our application.”
In spite of the launch the CEO of ErisX Thoma Chippas says that:
"We know that a launch such as this is a process, not a one-off event. 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.”
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