Crypto trading startup ErisX is appointing a new board of directors as it plans to release spot and derivatives market for cryptocurrencies along with bitcoin and then ethereum.
Joseph Lubin who is the founder of the Ethereum development studio ConsenSys has been appointed as the board of directors by Crypto Startup ErisX. The latest news was unveiled on an official press release published on Jan 17.
Crypto Exchange ErisX is a reset of a futures market Eris Exchange,which was initially formed in 2010. Later in 2018, ErisX grabbed $27.5 million from Fidelity Investments and Nasdaq Ventures. This year, ErisX is planning to launch spot trading in BTC, ETH and LTC and future markets.
Apart from Joseph Lubin, Cris Conde, a tech entrepreneur will also join the board. Both of them will serve besides DRW CEO Don Wilson, Valor Equity Partners managing partner Antonio Gracias, and ErisX CEO Thomas Chippas.
ErisX further mentioned that Lubin has a great experience working in the cryptocurrency space and possess in-depth knowledge of Ethereum Network. Joseph Lubin stated that "2019 is likely to be a breakthrough year for digital assets."
Cris Conde, before joining ErisX, was a co-founder of software firm Devon Systems, which was later acquired by SunGard in 1987, a firm known for providing software solutions to the financial industry. After this, SunGurd made its place in the Fortune 500 list under the leadership of Cris Conde.
ErisX head of marketing Jessia Darmoni said,
"As a general rule, we don’t comment on engagement with regulators while we are still in process with them. However, we can say that Mr. Lubin and his team bring extensive knowledge and background on Ethereum, the crypto space as well as the token space to ErisX."
“We are pleased to welcome Joseph and Chris to the ErisX Board,” said CEO Tom Chippas. “As two leaders in the digital asset space, ErisX will benefit from the unique perspectives they offer and the enthusiasm they bring to the space. We also want to thank Cliff for the significant guidance and support he has provided, including helping shape the digital asset spot and regulated futures market.”
Before a month, ErisX declared the appointment of veteran exchange founder Matt Trudeau as its chief strategy officer (CSO). With the new role, Trudeau will most probably be given work to explore new ways to generate revenue growth and also to support the firm's market structure efforts.
In October 2018, retail brokerage company TD Ameritrade, including popular investment firm DRW Holdings and high-speed trader Virtu Financial declared their backing of ErisX. All the three firms agreed to invest in ErisX, hence this will help ErisX to develop a strong place in the crypto market.