EDX Markets, a new cryptocurrency exchange, receives backing from Wall Street giants.

EDX Markets, a new cryptocurrency exchange, has entered the industry with the support of major financial institutions like Citadel Securities, Fidelity Investments, and Charles Schwab. The company launched its digital asset market on June 20 and hopes to attract industry leaders by combining traditional finance best practices with unique advantages like liquidity, competitive quotes, and a non-custodial model designed to minimize conflicts of interest. Currently, EDX only supports trading of four cryptocurrencies: Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).

EDX plans to introduce EDX Clearing in the coming months, which is a clearinghouse aimed at settling trades executed on the EDX Markets platform. This system will enable trades to be conducted with a central counterparty, offering participants notable advantages such as improved price competition, minimized settlement risks, and improved operational efficiencies.

As part of its growth strategy, EDX recently concluded a funding round with strategic investors like Miami International Holdings, DV Crypto, GTS, GSR Markets LTD, and HRT Technology, in addition to the existing coalition of founding investors. The company plans to use the additional funding to further develop EDX’s trading platform.

The launch of EDX Markets amidst a regulatory crackdown by the Securities and Exchange Commission (SEC) suggests that investors remain interested in cryptocurrencies. In a similar move, BlackRock has submitted an application for the very first Bitcoin spot exchange-traded fund (ETF) in the United States, indicating its embrace of the world of cryptocurrencies.

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