Wall Street-Backed Crypto Exchange Hires Ethereum Co-founder Joseph Lubin

A Chicago-based cryptocurrency exchange that has the backing of big names on Wall Street has just hired Ethereum co-founder Joseph Lubin.

Lubin will join the Board of Directors at ErisX, a digital asset trading platform that recently concluded a funding effort of more than $27 million involving major financial institutions like Bitmain, ConsenSys, Fidelity Investments, and Nasdaq Ventures.

^{Joseph Lubin}

The Ethereum co-founder, who previously was involved in the founding of blockchain development firm ConsenSys, wrote in a statement:

“ErisX has a unique position in the market with support from a wide range of investors as well as experienced leaders at the helm. I look forward to bringing my experience with decentralized technologies and digital assets to a model that will further democratize access to digital assets. 2019 is likely to be a breakthrough year for digital assets, and the exceptional ErisX team is poised to lead.”

ErisX, which has also acquired backing from TD Ameritrade, Valor Equity Partners, and Cboe Global Markets Inc, says it will offer investors the ability to trade Bitcoin, Bitcoin Cash, Ethereum and Litecoin on spot and futures markets sometime later this year.

According to ErisX Chief Executive Officer, Thomas Chippas, the capital raised during the recent fundraiser will be used to hire staff and “build out our infrastructure and secure the appropriate steps are taken to develop a regulated market for digital assets."

The Chicago-based exchanged is being chalked up as a competitor to the Bakkt crypto startup in the race to offer regulated crypto custody solutions to retail and institutional investors.