EDXM Crypto Exchange To Be Launched; Fidelity, Citadel, Charles Schwab Join Hands

US trading behemoths and brokerage firms are developing a cryptocurrency exchange that, by imitating the framework of how other asset classes trade, further integrates investment in digital assets into the world of traditional finance.

According to a press release from the company’s CEO, Jamil Nazarali, EDX Markets will begin trading a few spot cryptocurrency tokens in November as part of a trial period before going live in January. Charles Schwab, Fidelity Digital Assets, Paradigm, Sequoia Capital, Citadel Securities, and Virtu Financial all provide financial support for it.

According to the press release, EDXM will be completely autonomous and strive to deliver a better price discovery than the current cryptocurrency exchanges.

By separating responsibility for running the exchange from the entities trading on it, we will eliminate substantial conflicts of interest that beset existing cryptocurrency exchanges, according to EDX’s press announcement.

Technology Partner of EDXM

Members Exchange (MEMX), a company established in 2019, will power this new cryptocurrency exchange by providing the necessary technological infrastructure. MEMX is a market participant in 2019 who is creative and customer-focused. By employing scalable exchange architecture specifically designed by MEMX to span a range of markets, EDXM is anticipated to fulfill the needs of the world’s largest and most advanced financial institutions.

EDXM stated that its cryptocurrency exchange would support institutional and retail consumers.

The board of directors of EDXM stated in the press release that cryptocurrencies are a $1 trillion global asset class with more than 300 million investors and millions more.

Enjoy reading? Share with your friends
Scroll to Top