EDX Markets has chosen Anchorage Digital as the custody provider for its forthcoming clearinghouse venture, EDX Clearing. This strategic partnership combines established market norms with decentralized finance, offering a secure custody solution for institutional clients seeking compliant trading and settlement in the digital asset space.
EDX Markets Taps Anchorage Digital for Cutting-Edge Custody Solution
In a significant move toward fortifying the evolving landscape of cryptocurrency trading, EDX Markets has announced a pivotal partnership with Anchorage Digital. This collaboration sets the stage for the launch of EDX Clearing, a clearinghouse initiative that aims to introduce secure and compliant custody solutions to the DeFi realm.
Strengthening Market Structure with Institutional-Grade Security
As the digital asset ecosystem continues to mature, EDX Markets has taken a proactive stance by selecting Anchorage Digital as the dedicated custody provider for its upcoming clearinghouse business. Anchorage Digital’s reputable security measures and regulatory framework present an attractive proposition for EDX’s institutional client base.
Bringing Traditional Finance Standards to the DeFi Sphere
Jamil Nazarali, CEO of EDX, expressed confidence in Anchorage Digital’s capability to cater to the needs of their institutional clientele. The integration of a robust security, governance, risk, and compliance framework from Anchorage Digital is anticipated to create a best-in-class solution that aligns with EDX’s vision for a resilient and compliant clearinghouse.
Jamil Nazarali, CEO of EDX, expressed confidence in Anchorage Digital’s capability to cater to the needs of their institutional clientele. The integration of a robust security, governance, risk, and compliance framework from Anchorage Digital is anticipated to create a best-in-class solution that aligns with EDX’s vision for a resilient and compliant clearinghouse.
A Consortium of Financial Titans Backing EDX
EDX’s journey in the crypto landscape has garnered significant support from an influential consortium of major financial institutions. Notable backers include Citadel Securities, Fidelity Digital Assets, Virtu Financial, Charles Schwab, Sequoia, Paradigm, and other key players. This strong backing underscores the industry’s recognition of EDX’s potential to revolutionize digital asset trading.
Unlocking the Future of Institutional Crypto
Diogo Mónica, Co-founder and President of Anchorage Digital, highlighted the importance of learning from traditional finance practices as the cryptocurrency industry evolves. Anchorage Digital’s expertise has proven that a segregation between custody and exchange functions for institutions isn’t just feasible, but crucial. This collaboration aims to bridge the gap between established financial norms and the innovative landscape of decentralized finance.
Seamless Settlement and Enhanced Capital Efficiency
EDX Clearing is poised to bring added value to the trading process by offering a streamlined settlement procedure. Trades executed on the EDX platform will find seamless settlement through EDX Clearing, potentially enhancing capital efficiency for market participants. Anchorage Digital Bank will play a pivotal role in supporting custody services for assets traded on the EDX exchange.
In a realm where security and compliance are paramount, the collaboration between EDX Markets and Anchorage Digital stands as a testament to the industry’s commitment to delivering sophisticated financial solutions to a rapidly growing and evolving digital landscape.
