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Fidelity, Nasdaq Ventures invest in cryptocurrency exchange ErisX

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On Tuesday, ErisX which is a new crypto-currency exchange stated that it has been successful in raising a sum total of $27.5 million from investors which include the Fidelity Investments as well as Nasdaq Ventures.

ErisX further announced that it will be offering its investors the ability as well as the chance of trading with the crypto-currencies which include bitcoins, litecoins as well as ethers on the spot along with the market of the future.

The facility will start from next year and will be subjected to a regulatory approval.

Source: Wpengine

Crypto-currencies are the virtual form of money which can be used as forms of payments on approval and regulatory basis through a variety of online applications.

They are also used for trading purposes on certain specific as well as dedicated platforms.

According to Reuters, Nasdaq has confirmed that it had participated in the funding round of ErisX. However, it declined the request to give the dollar amount for the same.

Fidelity did not respond to the requests of the Reuters for commenting on the same matter.

Source: CoinTelegraph

According to Thomas Chippas who is the Chief Executive Officer of ErisX, the investments made by the Nasdaq will be used by the company so as to hire staffs as well as to build the infrastructure of the company and to secure the steps which will be appropriate so as develop a market that will be regulated for the digital assets.

In October, ErisX which is a Chicago based firm conducted as well as closed its first round of funding.

This round witnessed funding from several retail brokerages including TD Ameritrade Holding Corp, along with Valor Equity Partners which is a private equity firm along with Cboe Global Market Inc.

Source: Reuters, Investing

Ketakee Srivastava
I am an amateur content writer, who is currently pursuing a Masters in Finance from ICFAI Business School. In this highly volatile Business Market, I find no better way to keep myself updated than to write about it and reflect my own thoughts as words.

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