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NASDAQ, Fidelity Invest In New Cryptocurrency Exchange

December 05
10:02 2018

Nevermind The Bear Market

Seemingly unphased by the current bleeding conditions of the cryptocurrency market, Fidelity Investments and NASDAQ Ventures have reportedly taken part in a funding round of new cryptocurrency exchange ErisX. The total amount raised is $27.5 million, Reuters reports.

According to the report, Nasdaq has already confirmed its participation while Fidelity is yet to respond to the requests for comment.

The new cryptocurrency exchange will purportedly enable investors to trade Bitcoin (BTC), Litecoin (LTC), and Ether (ETH) on both spot and futures markets. It is expected to launch in 2019 following regulatory approval.

Speaking on the matter was Thomas Chippas, CEO at ErisX, who noted that the investments will be used “to build out our infrastructure and secure the appropriate steps are taken to develop a regulated market for digital assets,” and to hire staff.

It’s worth noting that Chippas, according to his LinkedIn profile, comes from the banking sector and a former Managing Director at Citi and Barclays.

Continue Reading at Bitcoinist

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