Riot Blockchain is getting ready to launch of cryptocurrency exchange, according to its recent SEC filing. According to the filing, the exchange, dubbed RiotX, will provide a “stable and secure platform for the exchange of digital currencies.” RiotX will offer three primary services: (1) banking, (2) trading engine, and (3) a digital wallet. RiotX will initially be available for U.S. users and is anticipated to launch in the second quarter of 2019.
Riot Blockchain was formerly known as Bioptix Inc, a firm manufacturing diagnostic machinery for the biotech industry. Amid the 2017 crypto bull run, Bioptix pivoted into the cryptocurrency space, rebranding itself as Riot Blockchain. This move sent the company’s shares skyrocketing to as much as 1,611%. Subsequently, the firm received a subpoena from the SEC on April 9, 2018.