THE DAILY ENCRYPT

October 3, 2022

EDX Markets – Crypto Exchange Launched by Citadel, Fidelity and Charles Schwab

EDX Markets will offer "safer and faster" cryptocurrency trading....
edxm crypto exchange charles schwab fidelity
Image by The Daily Encrypt

EDX Markets will offer “safer and faster” cryptocurrency trading. Today, a group of giant investment firms including Charles Schwab and Fidelity Digital Assets announced the launch a new cryptocurrency exchange.

Known as EDX Markets it will offer investors “faster, more efficient and safer cryptocurrency trading,” according to Tuesday’s statement . The technology used by the exchange is from stock exchange The Members Exchange (MEMX).

A more efficient and cost-effective way to trade digital assets

Citadel Securities, Paradigm and Sequoia Capital are also backers. According to the statement, other market participants will likely partner with EDXM after the launch. Jamil Nazarali (a former Citadel Securities senior executive) will be the exchange’s CEO.

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The industry consortium’s intention is to create market infrastructure that allows for increased liquidity to facilitate a more efficient and cost-effective way to trade digital assets,” a Fidelity representative stated to Decrypt by email. 

This news comes following a Wall Street Journal article yesterday that claimed the Boston-based investment firm is considering whether to offer Bitcoin for its retail investors.

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It has been long believed that the world of digital assets is complex. Things like private keys and storage and custody are often a hindrance to traditional investors.

EDXM will be available to both institutional and retail investors, allowing them to “safely enter” into crypto, according today’s statement.

Vitalik Ivanov

Vitalik Ivanov

Vitalik is a speaker / journalist. He has spoken and given presentations at many blockchain events across the world. Vitalik is based in the UK, he loves to travel and calls Dubai his "crypto home". Vitalik has enjoyed speaking at blockchain events and has a main focus on CBDC's, NFT's and altcoins. Vitalik says "Everything, and i mean everything will be an NFT one day".
Vitalik Ivanov

Vitalik Ivanov

Vitalik is a speaker / journalist. He has spoken and given presentations at many blockchain events across the world. Vitalik is based in the UK, he loves to travel and calls Dubai his "crypto home". Vitalik has enjoyed speaking at blockchain events and has a main focus on CBDC's, NFT's and altcoins. Vitalik says "Everything, and i mean everything will be an NFT one day".

© 2022 The Daily Encrypt. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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