Institutional Crypto Exchange EDX Markets Partners with Anchorage Digital for Custody Solutions
Institutional crypto exchange EDX Markets has chosen Anchorage Digital as its custody provider for its upcoming clearinghouse business. Anchorage Digital will offer regulated custody for EDX Clearing when it launches later this year. EDX Markets had previously announced its partnership with Paxos as a custodian in October.
Key Points:
– Anchorage Digital’s security and compliance framework makes it an ideal partner for EDX’s clearinghouse business.
– EDX Clearing will settle trades on EDX with a single settlement process, providing clearing services to clients who use Anchorage Digital Bank for custody.
– Anchorage Digital’s separation of custody and exchange functions is crucial for institutional crypto.
– EDX Markets is supported by major financial firms, including Citadel Securities, Fidelity Digital Assets, and Charles Schwab.
– EDX Markets went live in June, offering trading in bitcoin, ether, litecoin, and bitcoin cash.
Hot Take:
EDX Markets’ partnership with Anchorage Digital for custody solutions is a strategic move to enhance its clearinghouse business. By leveraging Anchorage Digital’s robust security and compliance framework, EDX can provide its institutional clients with a best-in-class custody solution. The integration with Talos and support from major financial firms further solidify EDX’s position in the institutional crypto space. This partnership signals the increasing importance of custody solutions in the crypto industry and highlights the potential for further collaboration between traditional finance and digital assets.
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