Cryptocurrency exchange platform, ErisX announced Matt Trudeau as the company’s Chief Strategy Officer.
The expansion of their leadership team comes just before the launch of cryptocurrency spot and futures, which will be available for trading by early 2019. The spot trading will be offered in Bitcoin, Ethereum, and Litecoin; futures are scheduled for the second quarter of next year.
The appointment of the new CSO comes after the exchange trading platform closed a Series B round of funding that raised $27.5 million from investors such as ConsenSys, Fidelity Investments, Nasdaq Ventures, Bitmain, and Monex Group.
Matt Trudeau has led and assisted ten global markets launched including Instinet, Chi-X, IEX, and Tradewind. Currently, Trudeau is also serving as CEO of a cryptocurrency and blockchain firm, that is based in Brooklyn.
Trudeau’s experience in the digital space has worked in trading technology and electronic exchanges within the framework of regulated global financial markets.
An official statement from Trudeau about the new ErisX venture was:
“ErisX is a needed evolution to the way individuals and institutions trade digital assets, and I am pleased to be a part of this initiative.
Trudeau is also best known as one of the stars of Michael Lewis’s “Flashy Boys,” which narrates the story of IEX, a stock exchange to promote clean markets by developing breaks for high-frequency trading.
On the announcement of Trudeau as the company’s new CSO, Thomas Chippa, CEO of ErisX said, “We welcome Matt to the team and look forward to leveraging his experience working in digital assets, disruptive technology, and regulated environments.”
The exchange platform is all set to enter a competition with dominant cryptocurrency and trading investment ventures and the Intercontinental Exchange(ICE), the operator of 23 global exchanges which includes the New York Stock Exchange (NYSE) is planning on launching new digital assets platform, ‘Bakkt,’ by the end of January 2019.
Both Bakkt and ErisX are waiting for approval from the US Commodity Futures Trading Commision (CFTC), to have its Bitcoin futures product that is physically-delivered.
Fidelity, which accounts for over $7.2 trillion in client assets, announced the launch of a company, Fidelity Digital Asset Services. The business will focus on offering “secure, compliant, and institutional-grade omnibus storage solution for bitcoin, ether and other digital assets.”