Table of Contents
- EDX Will Allow Trading In BTC, ETH, LTC, and BCH
- Traditional Financial Institutions Bullish on Bitcoin
EDX Markets, the crypto exchange endorsed by Wall Street heavyweights such as Fidelity and Citadel, launched its operations this week. The platform will offer trading in BTC, LTC, ETH and BCH.
EDX Markets launched its operations on Tuesday after it completed an investment round which saw it onboard new equity partners to join its founding investors Citadel Securities, Fidelity Digital Assets, Sequoia Capital, and Charles Schwab.
EDX Will Allow Trading In BTC, ETH, LTC, and BCH
In a press release, EDX explained that it offers a “non-custodial” model, meaning it does not hold clients’ digital assets. The platform instead works with a third-party custodian, said Chief Executive Officer Jamil Nazarali.
The exchange also said it successfully conducted an investment round to add investors such as Miami International Holdings, DV Crypto, GTS, GSR Markets LTD, and HRT Technology.
EDX’s ability to attract new investors and partners in the face of sector headwinds demonstrates the strength of our platform and the demand for a safe and compliant cryptocurrency market.
EDX further stated it aims to bring elements of traditional finance over to crypto, focusing on compliance and mitigating conflicts of interest.
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.
Unlike other crypto exchanges, EDX will only allow investors to trade four top cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).
The platform’s CEO said EDX would soon launch a clearing house.
With the endorsement of our new and growing list of investors and customers, we’re proud to launch trading and look forward to further enhancements to our offering. Looking ahead, EDX Clearing will be a major differentiator for EDX -- and resolve an unmet need in the market – by enhancing competition and creating unparalleled operational efficiency through a single settlement process.
Traditional Financial Institutions Bullish on Bitcoin
In a time of intense regulatory scrutiny of the crypto industry, some traditional financial institutions are laying the groundwork to participate in the market. BlackRock, the world’s largest asset manager, announced last week that it applied for a Bitcoin spot ETF (exchange-traded fund). If approved, the ETF would become the first crypto spot ETF in the US.
Rumour also has it that Fidelity Investments applied with the SEC to develop a Bitcoin ETF similar to BlackRock’s.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.