Schwab-backed EDX Markets Launches as New Crypto Exchange
EDX Markets, a new digital assets marketplace, has officially launched its trading platform for bitcoin, litecoin, ether, and bitcoin cash. This crypto exchange, backed by financial giants such as Fidelity, Charles Schwab, and Citadel Securities, aims to provide a safe and compliant market for cryptocurrency trading.
EDX Markets: Backed by Financial Giants
With the support of Wall Street behemoths, EDX Markets has emerged as a major player in the crypto space. Fidelity, Charles Schwab, and Citadel Securities are among the financial giants backing this new venture. The launch of the trading platform for bitcoin, litecoin, ether, and bitcoin cash marks a significant milestone for EDX Markets.
In a press release, CEO Jamil Nazarali expressed the strength and demand for a safe and compliant crypto market:
“EDX’s ability to attract new investors and partners in the face of sector headwinds demonstrates the strength of our platform and demand for a safe and compliant crypto market.”
It is worth noting that none of the four crypto assets available for trading on EDX Markets have been classified as “securities” in the recent complaints filed by the U.S. SEC against Binance and Coinbase.
Plans for a Clearinghouse Business
In addition to the launch of the trading platform, EDX Markets has also completed a second round of funding with new investors. The company is committed to bringing traditional finance practices to the cryptocurrency market and plans to introduce a clearinghouse business in the near future.
“We are committed to bringing the best of traditional finance to cryptocurrency markets, with an infrastructure built by market experts to embed key institutional best practices.”
A non-custodial crypto exchange offers enhanced safety compared to a custodial wallet. EDX Markets’ upcoming clearinghouse business will further strengthen its position in the crypto market and attract institutional investors looking for secure and compliant trading solutions.
Despite recent challenges in the crypto industry, such as the FTX fiasco and ongoing regulatory crackdown, the launch of EDX Markets and BlackRock’s filing for a Spot Bitcoin ETF in the United States reflect the continued institutional demand for cryptocurrencies.
Editor’s Notes: Uber Crypto News
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