Wall Street giants back EDX Markets, a new cryptocurrency exchange

cointelegraph.com:

EDX Markets, a newcomer to the cryptocurrency exchange landscape, has made a notable entry with backing from prominent financial institutions such as Citadel Securities, Fidelity Investments, and Charles Schwab. The company recently unveiled the launch of its digital asset market on June 20, marking its official entry into the industry.

According to the announcement, the exchange hopes to attract "industry leaders" by incorporating best practices from traditional finance and offering unique advantages, including liquidity, competitive quotes, and a non-custodial model designed to minimize conflicts of interest. Currently, EDX supports the trading of only four cryptocurrencies, namely: Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).

In the coming months, EDX plans to introduce EDX Clearing, 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 attracting strategic investors such as Miami International Holdings, DV Crypto, GTS, GSR Markets LTD, and HRT Technology. These investors join the existing coalition of founding investors, including Charles Schwab, Citadel Securities, Fidelity Digital AssetsSM, Paradigm, Sequoia Capital, and Virtu Financial. According to the company, the additional funding will be utilized to further develop EDX's trading platform and solidify its position in the market.

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