Cboe says Robinhood and Virtu among potential equity partners in crypto exchange

Individuals stroll by the Chicago Board Choices Alternate (CBOE) International Markets headquarters constructing in Chicago, Illinois, U.S., September 19, 2018. REUTERS/Michael Hirtzer/File Photograph

Aug 25 (Reuters) – Cboe International Markets Inc (CBOE.Z) on Thursday mentioned it’s in discussions with a number of market contributors, together with retail brokers and market makers, about taking strategic stakes in its just lately acquired digital asset alternate, ErisX, which will likely be renamed Cboe Digital.

Cboe mentioned the potential fairness companions embody Robinhood Markets Inc (HOOD.O), Interactive Brokers (IBKR.O), Virtu Monetary (VIRT.O), Jane Avenue, Bounce Crypto, Optiver, DRW, and tastytrade, which is owned by IG Group (IGG.L).

Chicago-based Cboe mentioned the “quickly to be formalized” fairness companions will be a part of deliberate industrial companion corporations in supporting ErisX, together with Constancy Digital Belongings, Galaxy Digital, NYDIG and Webull.

“ErisX was based with the mission of bringing clear, well-regulated markets for digital belongings and we’re excited to additional speed up on this imaginative and prescient with rising assist from our companion corporations,” mentioned Cboe Chief Government Officer Ed Tilly.

Cboe closed the acquisition of U.S.-based digital asset spot market operator Eris Digital Holdings (ErisX) in Could, which additionally included a regulated futures alternate and a regulated clearinghouse, because the cornerstone of its new Cboe Digital enterprise. learn extra

Final month, Cboe mentioned it took a $460 million writedown on its ErisX buy because of the plunge within the worth of cryptocurrencies. learn extra

Cboe introduced its intention to amass ErisX on Oct. 20, when the worth of bitcoin topped $67,000. Since then, digital asset costs have plummeted, with bitcoin at the moment buying and selling in a variety of round $20,000 to $25,000.

Reporting by John McCrank
Enhancing by Mark Potter

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