- The platform was invested by Citadel Securities, Fidelity Investments and Charles Schwab
- Only four coins are available for trading: BTC, ETH, LTC, BCH
June 20 starts the EDX Markets cryptocurrency platform, which is supported by large American companies such as Citadel Securities, Fidelity Investments and Charles Schwab.
EDX, unlike traditional cryptocurrency exchanges, has declared its focus on using the standards of the traditional financial sector. However, it will function as a non-custodial exchange, avoiding direct interaction with clients’ digital assets. Instead, EDX will provide a platform where companies can trade between cryptocurrencies and fiat currencies.
Also this year, EDX plans to launch a clearing house to facilitate the settlement of trades. However, the exchange will use third-party banks and crypto-custodians to store client assets. This non-custodial EDX approach aims to provide security and avoid misuse of customer funds.
The company does not plan to directly serve individual investors, however, it expects retail brokerages to channel investor orders to buy and sell cryptocurrencies on its platform.