ErisX to launch Litecoin futures before 2019 ends

Chicago-based crypto solution provider ErisX plans on launching Litecoin futures by the end of this year.

ErisX and Litecoin futures

The company is currently planning on launching Litecoin futures by the end of this year. The company will support Bitcoin, Bitcoin Cash and Ethereum futures as well. The news was announced through a blog post by the company.

ErisX has joined hands with FIS to modify the existing systems and to verify that the exchange is supported by FIS services. This way, ErisX will be able to help institutional members that have existing back-office workflows. Many companies that are providing futures markets are already working with FIS to scale their businesses.

Back-office operators working through FIS will be receiving the same data that they usually collect through commodity trading venues. In simpler words, FIS sends the same type of data for commodity trading and back-office operations.

CEO of ErisX Thomas Chippas stated that the integration with FIS is a necessary step for the platform’s evolution. He noted that the testing at FIS is a significant “milestone” for the company. This would pave the way for ErisX to launch its digital asset futures that the company plans on launching by the end of this year.

He also noted that working with a well-esteemed company such as FIS shows the company’s determination to establish the necessary infrastructure for futures market intermediaries.

ErisX’s spot market was established in May this year. The company is developing technologies and has secured twenty million dollars during recent Series B funding.