Schwab-Backed Crypto Exchange EDX Markets Launches


EDX Markets, a crypto exchange backed by financial giants, such as Fidelity, Charles Schwab and Citadel Securities, has officially launched trading in bitcoin, ether, litecoin, and bitcoin cash. The exchange has also completed a second round of funding with new investors.

CEO Jamil Nazarali said in a press release that the ability to attract new investors and partners in the face of sector headwinds demonstrates the strength of their platform and demand for a safe and compliant crypto market.

It is noteworthy that none of the four digital assets available to trade on EDX are considered “securities” by the U.S. SEC. EDX Markets is committed to bringing the best of traditional finance to cryptocurrency markets, with an infrastructure built by market experts to embed key institutional best practices.

The crypto exchange will soon launch a clearinghouse business in the coming months as well. This news follows BlackRock filing to launch a Spot Bitcoin ETF in the United States, suggesting that the long-term institutional demand for digital assets remains strong despite the FTX fiasco and the regulatory crackdown.

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