EDX Markets, a crypto exchange platform made in Wall Street – CryptoActu

While some stubbornly predict the end of cryptocurrencies that are facing yet another blood-red phase, others are ever more involved in the world of Bitcoin and its younger sisters. This is particularly the case of several large US funds managing billions of dollars, which have decided to join forces to launch a made-in-Wall Street digital asset trading platform. The exchange baptized EDX Markets could easily boost the adoption of this asset class among professionals in the profession, as Godard would have said, or qualified private investors, often tempted but cautious, who will find there a tailor-made solution to immerse themselves in the crypto bath .

EDX markets, Wall Street’s crypto exchange

According to the adage “you are never better served than by yourself”, several heavyweights of traditional finance – Charles Schwab ($8.1 trillion in assets under management), Fidelity Investments ($4.5 trillion), Citadel Securities ($253 billion)and venture capital firms Sequoia Capital and Paradigm as well as the trading business Virtu Financialannounced the launch of thecrypto exchange EDX Markets. A “one-of-a-kind” exchange to use the terms of the press release, which intends to respond to a clear desire for crypto.

Crypto is a $1 trillion global asset class with over 300 million participants and pent-up demand for millions more. Meeting this demand requires a platform that can meet the needs of retail traders and institutional investors with high compliance and security standards.

Communicated of the EDXM Board of Directors

the new exchange will initially only focus on a “handful” of tokens. Bitcoin of course and a few other undisclosed ones, which the platform’s legal armada categorizes as ” commodities (goods) in order to avoid disputes related to cryptos assimilated to “ securities » (financial securities). These can only be legally sold to the public under certain conditions. Namely, if the issuer has previously registered with the Securities and Exchange Commission (SEC) and adheres to a strict disclosure regime.

This new platform will also offer a market structure similar to that of the stock market for professional traders with sophisticated mechanisms that reduce transaction costs and times. For this purpose, it will use the technology developed by the Members Exchange (MEMX).

EDXM will enable a highly liquid cryptocurrency ecosystem that aggregates liquidity from multiple market makers to reduce spreads and improve transparency. This commitment to price discovery and efficiency should result in better prices for investors than those offered by existing cryptocurrency exchanges.

Communicated of the EDXM Board of Directors

After a pilot phase, EDX Markets will officially open in January 2023.

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Recall that this is also the moment chosen by the global finance magnate BlackRock to launch his Bitcoin trust.

As relayed throughout the past year, the zinzins have undeniably become key players in the market crypto. More precisely, if their number is increasing, it is still marginal, but on the other hand, by the scale of the committed funds, they represent a growing share of the market capitalization of Bitcoin and company. In fact, with the entry into the running of a platform providing them with reliable access to crypto-assets, their commitment should experience an explosive exponential curve. Historical players in crypto trading, such as Coinbase, which today is the preferred platform for investment professionals, are undoubtedly worried about facing the EDX Markets war machine which is being set up to capture the pockets deep.

There is still time to react so as not to leave Bitcoin in the hands of big wallets, register without delay on the FTX platform and get a lifetime discount on trading fees (trading link).

We want to say thanks to the author of this post for this outstanding material

EDX Markets, a crypto exchange platform made in Wall Street – CryptoActu


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