US-Based Exchange ErisX Officially Announces Public Launch of Spot Market

Following media reports in late April, Chicago-based cryptocurrency exchange ErisX has launched spot trading.

Chicago-based crypto exchange ErisX has officially announced the public launch of its spot market, the firm tweeted on April 30.

The ErisX spot exchange is the first part of the company’s development of a single platform that will represent both a digital asset spot and regulated futures exchange, as reported by Finance Magnates.

Subsequently after the announcement, ErisX reportedly enabled support of United States dollar trading pairs with major cryptocurrencies such as bitcoin (BTC), ether (ETH), bitcoin cash (BCH) and litecoin (LTC), according to crypto news outlet Coindesk.

Coindesk writes that ErisX is already in touch with a number of companies that are willing to trade on its platform at launch without disclosing any names.

Cointelegraph first reported on ErisX’s plans to launch spot trading on April 24, with some financial firms such as U.S. retail brokerage TD Ameritrade reportedly testing the exchange.

The launch of a spot market by ErisX reportedly follows the closure of the third round of a Series B fundraising round, with investors including Fidelity Investments and Nasdaq Ventures, among others.

The company is awaiting approval from the Commodity Futures Trading Commission to launch a regulated futures exchange along with a clearinghouse, the report notes.

Yesterday, Intercontinental Exchange-backed institutional crypto trading platform Bakkt announced the acquisition of crypto custodian service Digital Asset Custody Company.

Source: Cointelegraph

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