Business

Erik Gibbs

ErisX crypto exchange joins US Chamber of Digital Commerce

Earlier this month, the U.S. Commodity Futures Trading Commission (CFTC) approved an application request by the ErisX cryptocurrency exchange to offer crypto futures contracts. The action will help spread awareness and adoption of crypto assets and continue to bring digital currency closer to true global recognition, and the exchange has now announced another measure that should help in those efforts, as well. It is now part of the U.S. Chamber of Digital Commerce (CDC).

According to a Medium post by ErisX, it became a member of the CDC as of Thursday following approval by the group. The CDC, which includes crypto and blockchain innovators, investors and companies, works to advocate for, as well as promote, digital assets and blockchains, and lobbies for their adoption as permanent solutions.

ErisX CEO Thomas Chippas said, “The Chamber of Digital Commerce and its member initiatives are very much aligned with our objective to improve the digital asset trading and investing landscape. We are pleased they recognize our dedication to help bring mainstream adoption and accessibility to this space through an intermediary-friendly model and unified platform for spot and regulated futures.”

Adding to his comments, the founder and president of the CDC, Perianne Boring, stated, “ErisX represents the advent of institutional flow into the digital asset space and we are excited to welcome them as members. We look forward to bringing ErisX’s experience as a regulated market to the Chamber and to their participation in our efforts to educate policymakers as well as advocate for digital assets and blockchain technology.”

The crypto exchange was approved by the CFTC to hold a license to operate as a derivatives clearing organization (DCO). It currently operates a regulated derivatives market for other investment options and is expected to add futures contracts options for digital assets sometime before the end of 2019 with the new DCO license.

Among others, ErisX is joining CDC members like Medici Ventures of Overstock, TrustToken, Fidelity Investments and R3. The group held its third Congressional Blockchain Education Day on Thursday, organized to coincide with the chamber’s fifth anniversary, which takes place July 19.

According to a statement on the group’s website published before the event, “Congressional Blockchain Education Day is the world’s largest blockchain advocacy event and will bring together more than 120 Chamber members to educate lawmakers on Capitol Hill in Washington, D.C. Participating industries will include financial services, insurance, cyber security, supply chain, transportation, manufacturing, advertising, real estate and health care.”

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