EDX Markets backed by Financial Firms Charles Schwab, Citadel and Fidelity

EDXM has been announced by a group of leading broker-dealers, global market makers and VC firms. The platform is backed by Charles Schwab, Citadel, and Fidelity.

The firm is a new first-of-its-kind exchange that is here to leverage MEMX technology offering investors safer, more efficient crypto trading that is done through intermediaries that are fully accredited and trusted.

MEMX is a customer-centric, innovative market operator The platform was created in 2019 and provides tech infrastructure for EDXM.

The leadership team will include CEO Jamil Nazarali, CTO Tony Acura-Rohter and General Counsel David Froman.

The new exchange will address the latent demand for digital asset trading. This will all be carried out by making sure all trading of digital assets is done through a trusted intermediary that employs proven tech that has been provided by MEMX.

EDMX makes room for a highly liquid crypto ecosystem that is capable of aggregating liquidity from multiple market makers thus reducing spread and increasing and improving transparency.  This will result in more efficient trades and easier discovery as well as better prices for investors than other exchanges.

EDXM is fully independent and is backed by financial industry giants such as Citadel Securities, Charles Schwab, Paradigm, Citadel Securities, Fidelity Digital Assets, Virtu Financial, and Sequoia Capital. There are more participants that are scheduled to participate with EDXM but none have made an official commitment.

Traders will be netted and settled on the blockchain for greater speed and efficiency at a much lower rate once the network of select digital custodians are used to safeguard their assets. This eliminates bilateral settlement and thus lowers the price point.

EDXM will be crucial in removing conflicts of interest that affect exchanges as responsibility for operating the exchange is now removed from those trading on it.

The team believes that with the technology created by MEMX the EDXM infrastructure will be a safe entry point to crypto serving as the exchange of choice for trading digital assets via a platform created specifically for leading financial institutions.

Leave a Reply