EDX Markets, a Crypto Exchange Backed by Fidelity and Paradigm, Announces Launch and New Funding Round

EDX Markets, a Crypto Exchange Backed by Fidelity and Paradigm, Announces Launch and New Funding Round

Crypto exchange EDX Markets (EDX) today announced that it starts operation and opens trading. EDX is backed by a number of companies including Charles Schwab, Citadel Securities, Fidelity Digital Assets, Paradigm, Sequoia Capital and Virtu Financial. It aims to enable safe and compliant trading of digital assets through trusted intermediaries.

EDX is a non-custodial exchange for enterprise clients. It doesn't directly handle its customers' assets, instead, it offers customers a marketplace to trade dollar and cryptocurrency. Products traded on EDX include $BTC, $ETH, $LTC and $BCH. Later this year, EDX will launch clearinghouse EDX Clearing to settle trades matched on EDX. It plans to use third-party banks and a crypto custodian to hold customer assets by then.

In addition, EDX doesn't directly serve individual investors. It uses retail brokerages to send investors' orders to its marketplace.

Meanwhile, EDX announced it has completed a new funding round. New investors include Miami International Holdings, DV Crypto, GTS, GSR Markets LTD, and HRT Technology. The funds raised will be used to continue to develop its trading platform and solidifies its position in the market.

Related: Digital Asset Exchange EDX Markets Launches with Backing from Companies Including Citadel Securities

 

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