Citadel, EDX Crypto Exchange Goes Live
EDX, a new non-custodial cryptocurrency exchange, has gone live and is already fulfilling client orders. The Wall Street Journal reports that the corporation will make an official declaration about its operations later on Tuesday.
EDX is backed by some of Wall Street’s largest names, including Citadel Securities, Fidelity, and Schwab. Citadel Securities is the largest market maker in the United States, and Citadel and Fidelity are major brokerage firms.
EDX Markets is not like other cryptocurrency exchanges such as Coinbase or Binance. For starters, it supports cryptocurrencies such as Bitcoin, Ether, Litecoin, and Bitcoin Cash. It has avoided the hundreds of crypto tokens considered financial securities by the SEC.
Another distinction is that it is a non-custodial company, which means it does not directly manage customer funds. Instead, it is a marketplace where users may purchase and sell bitcoins to one another. Following agreement, the company’s technology permits the transfer of payments. Later this year, EDX intends to operate a clearinghouse.
(With inputs from Shikha Singh)
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