Wall Street giants back EDX Markets, a new cryptocurrency exchange

EDX Markets Makes Noteworthy Debut

EDX Markets, a new participant in the crypto exchange sector, has made a noteworthy debut with the support of well-known financial organizations like Citadel Securities, Fidelity Investments, and Charles Schwab. On June 20, the business revealed the introduction of its digital asset market, signaling its official entry into the business.

The exchange has declared its intention to draw in “industry leaders” by introducing the finest principles from conventional finance and providing distinctive benefits, such as liquidity, competitive prices, and a non-custodial system intended to reduce potential conflicts of interest. Presently, EDX solely allows the trading of four cryptocurrencies, namely: Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).

In the upcoming months, EDX is introducing EDX Clearing, a clearinghouse designed to finalize transactions that take place on EDX Markets. This system will facilitate trades to be conducted with a central counterparty, providing participants with benefits such as enhanced price competition, decreased settlement risks, and heightened operational efficiencies.

EDX recently completed a funding round which included strategic investors such as Miami International Holdings, DV Crypto, GTS, GSR Markets LTD, and HRT Technology. These new investors join the founding investors, including Charles Schwab, Citadel Securities, Fidelity Digital AssetsSM, Paradigm, Sequoia Capital, and Virtu Financial, as part of EDX’s growth strategy. The extra funding will be used to improve EDX’s trading platform and strengthen its presence in the market.

Investors Embrace Crypto World Despite SEC Regulations

Deutsche Bank has allegedly applied for a digital asset custody license from BaFin.

The introduction of EDX Markets, despite the Securities and Exchange Commission’s (SEC) stringent regulations, indicates that investors are still eager to invest in cryptocurrencies.

In the same vein, the investment management firm BlackRock has taken a major step forward in embracing the crypto world. On June 15, they put forth an application for the first Bitcoin spot exchange-traded fund (ETF) in the US. If the regulators grant approval, this ETF would give investors an authorized and simple way to invest in Bitcoin.

Does SEC Chair Gary Gensler have the ultimate authority when it comes to crypto regulation?

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