Anchorage Digital Becomes EDX Markets Custody Provider

EDX Markets, founded in June 2023 with substantial backing from prominent financial institutions such as Citadel Securities, Fidelity Investments, and Charles Schwab, stands apart from conventional cryptocurrency exchanges. Unlike its competitors, EDX Markets utilizes financial intermediaries to effectuate asset transactions instead of holding customer assets directly.

EDX Markets seeks to bridge the gap between the traditional financial framework and the rapidly expanding digital asset landscape through a strategic partnership with Anchorage Digital, a well-respected regulated cryptocurrency platform known for its financial solutions for institutional clients.

The forthcoming EDX Clearing initiative will streamline transaction settlements executed on the primary EDX platform. This merger is anticipated to improve the capital and operational efficacy of the exchange.

As the custodian of traded assets, Anchorage Digital Bank provides a secure foundation for EDX exchange participants. In numerous markets, including those for equities, bonds, and derivatives, a clearinghouse is a financial intermediary that facilitates trade settlement between parties. Its primary responsibilities include reducing trade execution and minimizing potential losses from unfulfilled obligations.

Using the secure custody infrastructure of Anchorage Digital Bank, EDX Clearing will provide a consolidated settlement process. This offering ensures improvements in capital and operational efficiency, entrusting EDX clients with the confidence to engage in safe trading on the exchange.