ErisX Gains BitLicense for New York Operation
- The company can now offer its services in 47 US states.

Eris Clearing, the clearing and settlement arm of ErisX, has become the latest crypto company to receive a BitLicense from the New York Department of Financial Services (NYDFS), the company announced on Wednesday.
This has granted the cryptocurrency Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. Read this Term to legally operate in the state of New York.
With this, ErisX also highlighted that it has now obtained permission to offer its services to 47 states and jurisdictions in the United States.
Commenting on the development, Thomas Chippas, CEO of ErisX, said: “We are pleased that the NYDFS recognized our commitment to the high standards we borrowed from existing capital markets structures and applied to the cryptocurrency space.”
A bit about BitLicense
BitLicense is believed to be the toughest regulatory approval a crypto company can get in the United States. The harsh requirements of the licensing process also forced major crypto exchanges, including Kraken, to cease operation in New York.
After the license's introduction in 2015, New York's state regulator was very picky to hand it out in the initial years. Last year, however, as many as eight companies received the license.
With this latest approval, from the ErisX has joined Coinbase, Robinhood, and Tagomi for receiving the tough license.
“Our technology stack as well as regulatory framework, operations, and transparent marketplace are building blocks from the established commodity markets bringing familiarity, reliability, and conventionality to the crypto markets,” Chippas added.
Founded in 2018, ErisX is also well funded, raising $47.5 million to date from ventures arms of Fidelity and Nasdaq.
Eris Clearing, the clearing and settlement arm of ErisX, has become the latest crypto company to receive a BitLicense from the New York Department of Financial Services (NYDFS), the company announced on Wednesday.
This has granted the cryptocurrency Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading. Read this Term to legally operate in the state of New York.
With this, ErisX also highlighted that it has now obtained permission to offer its services to 47 states and jurisdictions in the United States.
Commenting on the development, Thomas Chippas, CEO of ErisX, said: “We are pleased that the NYDFS recognized our commitment to the high standards we borrowed from existing capital markets structures and applied to the cryptocurrency space.”
A bit about BitLicense
BitLicense is believed to be the toughest regulatory approval a crypto company can get in the United States. The harsh requirements of the licensing process also forced major crypto exchanges, including Kraken, to cease operation in New York.
After the license's introduction in 2015, New York's state regulator was very picky to hand it out in the initial years. Last year, however, as many as eight companies received the license.
With this latest approval, from the ErisX has joined Coinbase, Robinhood, and Tagomi for receiving the tough license.
“Our technology stack as well as regulatory framework, operations, and transparent marketplace are building blocks from the established commodity markets bringing familiarity, reliability, and conventionality to the crypto markets,” Chippas added.
Founded in 2018, ErisX is also well funded, raising $47.5 million to date from ventures arms of Fidelity and Nasdaq.