The cryptocurrency market is constantly evolving and expanding, with new innovations and challenges emerging every day. However, one of the biggest barriers to entry for institutional investors has been the lack of a reliable and regulated platform that can offer them access to the crypto space without compromising on security, liquidity, or compliance.
EDX Markets, a new cryptocurrency exchange backed by some of the biggest names in traditional finance, has officially launched in the U.S. The exchange is a joint venture between Citadel Securities, Fidelity Digital Assets and Charles Schwab, and aims to provide a secure and reliable platform for trading digital assets.
EDX Markets is different from other crypto exchanges in that it does not directly handle customers’ digital assets or serve individual investors. Instead, it operates as a matching engine that connects brokers, institutions and other market participants who want to trade cryptocurrencies. EDX Markets also leverages the expertise and infrastructure of its backers, who are well-established players in the securities industry.
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EDXM offers trading in four major cryptocurrencies: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. Unlike other crypto platforms that hold clients’ digital assets during trading, EDXM works with a third-party custodian that ensures the safety and integrity of clients’ funds. This way, EDXM can focus on providing best-in-class execution, liquidity, and market data for its clients.
EDXM is led by Jamil Nazarali, a former senior executive at Citadel Securities who has over 20 years of experience in electronic trading and market structure. EDXM also has the support of leading venture capital firms such as Paradigm, Sequoia Capital, and Virtu Financial, as well as additional investors such as Miami International Holdings, GTS, GSR Markets, and HRT Technology.
EDXM is not only a game-changer for institutional investors who want to tap into the crypto market, but also a catalyst for the growth and maturity of the crypto industry as a whole. By adopting the rules and investor protections that exist in traditional finance, EDXM aims to bring more trust, transparency, and legitimacy to the crypto space.
The launch of EDX Markets comes at a time when the crypto market is facing increased regulatory scrutiny and challenges from authorities. Two of the largest crypto platforms, FTX and Binance, are facing lawsuits from the Securities and Exchange Commission (SEC) for allegedly violating securities laws and offering unregistered products. EDX Markets, on the other hand, claims to be fully compliant with all applicable regulations and standards. The exchange also offers various trading features and tools, such as limit orders, market orders, stop orders, margin trading and advanced charting.