- EDX Markets began conducting transactions with the backing of industry heavyweights.
- Only Bitcoin, Ethereum, Bitcoin Cash, and Litecoin will be available for trade on EDX Markets.
The non-custodial cryptocurrency exchange EDX Markets will be launching today with support from major broker-dealers, global market makers, and venture capital companies. Investors respond to EDX Markets as numerous established banks and brokerages join the cryptocurrency space.
The registration of BlackRock iShares spot Bitcoin ETF with the US SEC last week restored industry optimism. In recent weeks, EDX Markets quietly began conducting transactions with the backing of industry heavyweights including Charles Schwab, Citadel Securities, Fidelity Digital Assets, Paradigm, Sequoia Capital, and Virtu Financial.
Growing Adoption of Crypto Sector
EDX Markets is worried about increased attention from US authorities in the wake of problems at FTX and Binance, even as it actively pursues business from brokers and investors interested in crypto assets. Despite legal crackdowns spearheaded by the US Securities and Exchange Commission (SEC), interest in cryptocurrency remains high on Wall Street.
It’s the first of its kind, and it’ll help meet the unmet demand for trading digital assets by making it possible to do so in a secure and regulated manner via vetted third parties. It is a “noncustodial” exchange, meaning that it does not store its users’ digital assets on its own.
Only Bitcoin, Ethereum, Bitcoin Cash, and Litecoin will be available for trade on EDX Markets. It will also introduce a clearinghouse to streamline trade settlement.
Additionally, DV Trading, GTS, GSR, and Hudson River Trading affiliates participated in EDX Markets’ second investment round along with Miami International Holdings. The entry of established financial institutions into the cryptocurrency industry has brought further optimism over the growth and adoption of the crypto sector.
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