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On Thursday, 25th August, 2022, Cboe Global Markets agreed to the fact of their ongoing discussion with different firms within the market. The discussion includes market participants like market makers and retail brokers. Firms are exchanging their views on taking feasible strategic stakes in ErisX. The crypto exchange was recently acquired by the company and the plan is to rename it as Cboe Digital.
The prominent equity market operator named the potential equity partners which include Robinhood Markets Inc., Virtu Financial, Interactive Brokers, Jump Crypto, Jane Street, Optiver, tastytrade and DRW.
Cboe agreed the aforementioned firms are soon to join the commercial partners at the firms as formal equity partners who were already planned to support ErisX. The commercial partners of the firm include Galaxy Digital, Fidelity Digital Assets, Webull and NYDIG.
Chief Executive Officer at Cboe, Ed Tilly said that the crypto exchange ErisX was founded prioritizing the goal of bringing a well regulated and transparent market for crypto assets. He said the firm would ensure to continue the similar vision given the increasing support from their partner firms joining in soon.
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Cboe Planned to Own ErisX
In May, Cboe went on to acquire the crypto spot market operator based in the US named Eris Digital Holdings, popularly known as ErisX. Along with this, the acquisition also included adding up a regulated futures exchange and clearinghouse. All these entities would act as base for their new venture of Cboe Digital.
During last month itself, the Chicago based company went on to purchase ErisX for 460 million USD, given the huge drop of cryptocurrencies price. For instance, when Cboe announced to acquire the crypto firm in October last year, bitcoin was trading at around 67K USD. While currently it is way down from its high and trading at around 21K.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
