STAMFORD, Conn.--(BUSINESS WIRE)--TradeBlock, the world’s leading provider of digital currency over-the-counter (OTC) trading tools, has strengthened its existing relationship with ErisX, a Cboe Global Markets Company, by providing institutional investors access to U.S. based crypto spot, to offer cash settled OTC trades using the ErisX settlement service. Accessed via the TradeBlock platform, the ErisX clearing functionality helps mitigate settlement risk that is prevalent in OTC transactions. This alliance with ErisX represents TradeBlock’s commitment to streamline institutional workflows in the crypto market. "We strongly believe that institutional investors coming into the crypto-asset market will seek out solutions that allow them to operate efficiently, reduce risk, and that help ensure their regulatory compliance in other markets," said TradeBlock CEO Breanne Madigan. “This collaboration brings a tool common in futures and equities markets to crypto markets and is expected to improve institutional participation in the asset class. We believe that TradeBlock and ErisX enabling clearing of over-the-counter trades will make OTC crypto transactions more efficient, with lower risk, bringing the same level of automation as other mature markets.”

Tradeblock, a Houston, TX-based sneaker trading platform based on a barter economy and the prowess of community, raised over $8.9m in funding.

The UConn Data Science Initiative is partnering with TradeBlock and CoinDesk Indices to host a virtual Hackathon, a machine learning competition, that will challenge students to develop innovative solutions for tracking and visualizing the cryptocurrency market.