New Crypto Exchange Partners with Anchorage Digital for Custody Services

A New Crypto Exchange Partners with Anchorage Digital for Custody Services

A new crypto exchange, EDX Markets (EDX), has announced that it will be using Anchorage Digital as its custody provider for its clearinghouse arm, EDX Clearing. EDX Clearing is set to launch later this year. The decision to partner with Anchorage Digital was influenced by the digital custodian’s robust security, risk, and compliance framework, as well as its status as the only federally chartered crypto bank in the US. EDX Clearing, which currently supports Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, will settle trades matched on its exchange using Anchorage Digital Bank for custody.

Key Points:

EDX Markets (EDX) has chosen Anchorage Digital as its custody provider for its clearinghouse arm, EDX Clearing.
EDX Clearing, backed by financial giants such as Fidelity, Citadel, and Charles Schwab, will settle trades matched on its exchange using Anchorage Digital Bank for custody.
Anchorage Digital’s robust security, governance, risk, and compliance framework influenced the partnership decision.
As the only federally chartered crypto bank in the US, Anchorage Digital is seen as the ideal partner for building a robust and compliant clearinghouse business.
EDX Clearing currently supports Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

Hot Take:

The partnership between EDX Markets and Anchorage Digital is a significant development in the world of crypto exchanges. By choosing a custody provider with a strong security and compliance framework, EDX Clearing aims to meet the needs of its institutional client base. This collaboration highlights the increasing importance of trusted custodians in the crypto industry, especially for institutions looking to enter the space.