ErisX Launches Crypto Spot Market on Heels of New $20 Million Raise

Aspiring crypto derivatives provider ErisX took one step closer to its ultimate goal Tuesday with the launch of a spot market.

While ErisX has a number of firms looking to trade on its platform at launch, it did not disclose any names.

While the spot market launch is a "Major milestone," Trudeau sees it as merely an initial step in the company's broader road map.

Although ErisX is formally launching its spot market Tuesday, the exchange still has work to complete, said CEO Thomas Chippas in a statement.

Still, he anticipates that ErisX will see customers for both its spot and futures market onboard in the coming months, as the exchange continues developing its platform.

ErisX is continuing to build out its technology, as well as raise funds to support it, Trudeau told CoinDesk.

To continue developing these technology stacks, ErisX has just raised a third round of Series B investments, adding another $20 million to its total.

ErisX also raised $27.5 million as part of its Series B round last December, which saw many of the same firms participate, alongside Bitmain, Fidelity Investments and Monex Group.

The initial amount raised during its Series B was not disclosed, and it is not clear how much in total ErisX has raised to date.

In other ErisX news, NYDIG COO and CFO Rob Flatley has been named to ErisX's board, joining members including ConsenSys' Joseph Lubin.