certify
Home arrow Article arrow Article Detail

Big names in U.S. finance have started EDX Markets, a new place to trade cryptocurrencies

Profile Image

Joyashree Dey Follow

INDIA

Sep, 16 2022

Sep, 16 2022

likes | comments 0

Article Image

On September 13, a group of Wall Street bigwigs announced the launch of a new cryptocurrency exchange named EDX Markets (EDXM). 


The ‘first-of-its-kind exchange will address latent demand for digital asset trading by enabling safe and compliant trading of digital assets through trusted intermediaries.” 


In the press release, EDX Markets said it will combine the tech provided by independently owned, technology-driven stock exchange, Members Exchange (MEMX) "with best practices from traditional financial markets and tighter spreads enabled by greater liquidity." Leading broker-dealers, global market makers, and venture capital firms backing the exchange would aim to support secure, quick, and proficient crypto exchange for retail and institutional investors. 


A few big companies are their current partners such as Citadel Securities, Charles Schwab, Fidelity Digital Assets, Paradigm, Sequoia Capital, and Virtu Financial, other companies will join probably soon. Moreover, the exchange will be highly liquid to offer better costs over the crypto exchanges that as of now lead the market. 


To protect the digital assets on the platform a network of select custodians and trading activities will be used and settled respectively. "Customer security and regulatory compliance" are its core foundational principles, the crypto exchange said. 


The former global head of business development at Citadel Securities, Jamil Nazarali will be the Chief Executive Officer (CEO) at the crypto exchange, and ErisX’s ex-Chief Technology Officer (CTO), Tony Acuña-Rohter will be the CTO of EDX Markets. 


"We look forward to welcoming additional participants to the exchange, which will drive ongoing trading in this important asset class while creating a virtuous cycle of continually enhanced liquidity and efficiency supported by MEMX's cutting-edge technology," said Nazarali said. 


While Fidelity is backing EDX Markets, the financial services firm is also intending to let its clients exchange Bitcoin (BTC) on its online brokerage platform. 


likes | comments 0

Profile Image

Joyashree Dey

CBW - External Analyst

INDIA

Comments
Data Centre Construction - World First artificial intelligence AI-Tech Utility Token
banner
Article
WMG team up with OpenSea to expand Web3 opportunities 

WMG?team up?with OpenSea?to expand?Web3 opportunities for artists. This platform will enable artists to?build and extend their fanbase in the Web3 community. The nonfungible token (NFT) marketplace..;

Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.