EDX Markets goes live with non-custodial crypto exchange owned by biggest names

Rick Steves

“With the endorsement of our new and growing list of investors and customers, we’re proud to launch trading and look forward to further enhancements to our offering. Looking ahead, EDX Clearing will be a major differentiator for EDX — and resolve an unmet need in the market – by enhancing competition and creating unparalleled operational efficiency through a single settlement process.”

EDX Markets, a crypto exchange owned by some of the biggest industry names – such as Charles Schwab, Citadel Securities, Fidelity Digital AssetsSM, Paradigm, Sequoia Capital, and Virtu Financial – has gone live with its digital asset market and completed an investment round with new equity partners.

The company closed a new funding round that welcomed additional strategic investors, including Miami International Holdings, DV Crypto, GTS, GSR Markets LTD, and HRT Technology. The new funding will support EDX as it continues to develop its trading platform and solidifies its market leadership position.

Non-custodial model designed to mitigate conflicts of interest

EDX has opened trading as a crypto marketplace of choice for industry leaders and builds on best practices from traditional finance to provide customers with distinctive benefits including liquidity, competitive quotes, and a non-custodial model designed to mitigate conflicts of interest.

EDX also introduced a retail-only quote to the crypto markets, allowing participants the benefit of better pricing for retail-originated orders. Products traded on EDX include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).

Jamil Nazarali, CEO of EDX, said: “EDX’s ability to attract new investors and partners in the face of sector headwinds demonstrates the strength of our platform and the demand for a safe and compliant cryptocurrency market. We are committed to bringing the best of traditional finance to cryptocurrency markets, with an infrastructure built by market experts to embed key institutional best practices.

“With the endorsement of our new and growing list of investors and customers, we’re proud to launch trading and look forward to further enhancements to our offering. Looking ahead, EDX Clearing will be a major differentiator for EDX — and resolve an unmet need in the market – by enhancing competition and creating unparalleled operational efficiency through a single settlement process.”

The company additionally stated that it will launch EDX Clearing later this year to settle trades matched on EDX Markets. The clearinghouse will facilitate trades against a central counterparty, allowing participants to benefit from enhanced price competition and reduced settlement risks, while increasing operational efficiencies.

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