EDX Markets: A new crypto exchange backed by Wall Street giants
On Tuesday June 20, EDX Markets, a new crypto exchange, announced the launch of its trading activities. The launch did not go unnoticed in the ecosystem, as the platform enjoyed the support of a consortium of popular institutions in the financial universe. These include Wall Street giants Fidelity Investments, Charles Schwab and Citadel Securities.
EDX Markets positions itself in the digital asset market
In announcing the start of its operations, EDX Markets informed the public that it had recently begun trading. The exchange claims to offer a better service than the competition thanks to its competitive quotes, liquidity and unique non-depository model.
By offering these advantages to its users and incorporating the best practices of traditional finance, the platform is looking to attract crypto market leaders. Jamil Nazarali, EDX CEO said, “EDX’s ability to attract new investors and partners in the face of contrary industry direction proves the strength of our platform and the creation of a secure and compliant crypto exchange.”
“We are committed to bringing the best of traditional finance to the cryptocurrency markets, with an infrastructure built by market experts to integrate institutional best practices,” he further commented.
Currently, the exchange only supports trading for four cryptocurrencies: Bitcoin, Ether, Bitcoin Cash, and Litecoin.
Furthermore, as part of its launch, the platform concluded a new funding round that allowed new strategic investors to join the venture. Among the companies that have joined the coalition are DV Crypto, Miami International Holdings, Fidelity Investments, Charles Schwab, Virtu Financial, and Sequoia Capital.
The funds raised will be used for the continuous development of the platform and improving its leadership in the sector.
EDX Clearing Launch: The exchange’s next step
EDX Markets has already started developing its new product: EDX Clearing. A Clearing House acts as an intermediary between two parties, the buyer and the seller. Its role is to facilitate the process from the beginning of the transaction to the payment.
EDX Clearing will act as the central counterparty and will be responsible for the settlement of transactions carried out on the exchange. Nazarali says, “In the futute, EDX Clearing will be a major differentiator for EDX – and solve an unmet need in the market – by enhancing competition and creating unparalleled operational efficiency through a single settlement process.”
Indeed, despite the SEC’s relentless push-back and the numerous regulatory challenges and controversies that shake the crypto industry, innovative actors like EDX Markets continue to engage with determination in this dynamic field. Isn’t this proof that the crypto revolution is far from coming to a halt?
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Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.