- Citadel Securities, Fidelity Investments and Charles Schwab invested in the platform
- Only four coins are available for trading: BTC, ETH, LTC, BCH
The cryptocurrency platform EDX Markets, supported by major U.S. companies such as Citadel Securities, Fidelity Investments and Charles Schwab, begins operations June 20
EDX, unlike traditional cryptocurrency exchanges, says it is focused on using traditional financial sector standards. However, it will function as a non-custodial exchange, avoiding direct interaction with customers’ digital assets. Instead, EDX will provide a platform for companies to trade between cryptocurrencies and fiat currencies.
Also this year, EDX plans to launch a clearing house to simplify the settlement of transactions. However, the exchange will use third-party banks and cryptocurrencies to store customer assets. This non-custodial approach by EDX is aimed at ensuring security and avoiding misuse of customer funds.
The company does not plan to directly serve individual investors, but it does expect retail brokerages to route investor orders to buy and sell cryptocurrencies on its platform.