Citadel, Fidelity, Charles Schwab Launch Crypto Exchange, EDX Markets

Vignesh Karunanidhi
Citadel, Fidelity, Charles Schwab Launch Crypto Exchange, EDX Markets
Source: Coincu News

According to the latest details from a press release, a new crypto exchange called EDX Markets hit the market with its official launch. Citadel, Fidelity, Charles Schwab, Sequoia Capital, Virtu Financial, and Paradigm have collaboratively launched the new digital asset platform.

The team made the official announcement regarding the launch of EDX Markets through a press release, as the platform commenced its operation over the past few weeks.

EDX Markets will follow a non-custodial model

EDX, the newly unveiled crypto marketplace, has established itself as the preferred choice for industry leaders by incorporating best practices from traditional finance. In addition, the exchange aims to deliver exceptional benefits to its customers, including enhanced liquidity, competitive quotes, and a unique non-custodial model that addresses conflicts of interest.

In this model, the exchange operates as a marketplace where customer assets are not directly handled. Instead, participating firms utilize the services of EDX to establish trade prices. Additionally, by functioning as an intermediary platform, EDX facilitates transactions between parties, offering a distinct setup for trade execution

The press release also talks about the launch of EDC Clearing later this year. Furthermore, EDX Clearing will allow traders to settle trades matched on EDC Markets. As of now, the exchange provides trading in Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

Jamil Nazarali, CEO of EDX, stated that, “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.”