ErisX Offers Services in NY State

Judy Rubio

The Department of Financial Services has recently certified ErisX and permitted the cryptocurrency platform to offer its services to the public. This is the first license the authorities have issued and accepted a crypto platform. The mass media report that this sort of licensing will help the company, whose main activity is clearing, to offer clients residing in New York its services. For instance, clients will be able to purchase and sell virtual currency on ErisX.

According to the company’s representatives, the brand’s technology as well as transparent trading might be the basic conditions for a successful business. There are, of course, certain factors we cannot ignore. They allow the company to protect participants and prevent malpractice and misuse.

The company has also obtained a license that allows the provider to offer money transfer services (MTL). Besides the mentioned, ErisX has a DCM licensing.

The company is trustworthy and, before offering its services to NY State, the brand was approved as a clearing company for derivatives. Currently, the platform can operate in forty-seven U.S. states, including New York State.

The First Licensing and New Opportunities

In 2020, ErisX is the first platform to have obtained BitLicense. That’s the type of document that the authorities started to issue five years ago, in 2015.

Let us remind you that TradeStation Group is a company offering online brokerage services as well as trading technologies. The brand announced that its affiliation called TradeStation Crypto has integrated its order book into the ErisX platform.

The online brokerage services provided by TradeStation are available through the crypto trading platform belonging to ErisX. TradeStation is an affiliation of Monex Group, the Japanese brokerage service provider, who boasts great technology solutions.

The firm has recently reported that the partnership will offer new opportunities to traders using TradeStation Crypto. The liquidity will be increased and they will have a better price review along with optimized access to the cryptocurrency markets.

Priority number one is to provide one of the deepest liquidity pools available in the cryptocurrency market. The new partnership with ErisX is the key element of the entire strategy. This is a powerful instrument and, by employing the right ideas and tactics, it will be much easier to achieve the desired goals and results.

Expectations and Support from Investors

TradeStation created the platform a year ago, in 2019. The project seemed interesting and useful enough. It could effectively be used for cryptocurrency trading. The company concentrated on the institutional traders and tried to develop something that would meet their requirements and expectations.

ErisX is quite popular among investors. Some time ago there was another leading brokerage service provider called TD Ameritrade. The latter made investments into ErisX since they wanted to assist the company in its launch of Bitcoin futures contracts. Additionally, in 2019, ErisX launched a platform for spot trading of digital assets. A few months ago, ErisX started trading BTC futures. It is important to mention that Fidelity Investments, which is another brokerage service provider, participated in another investment round of ErisX, and supported the company by offering more than twenty-seven billion USD.

ErisX has all it needs to move ahead and achieve impressive results in a relatively short period. NY State can now attract people and offer new opportunities for both institutional traders and the company itself.