Aaryamann Shrivastava
FXStreet
- The new marketplace EDX Markets is also set to launch a new clearing house before the end of this year.
- EDX Markets is being touted as the “first of its kind” for enabling compliant digital asset trading through intermediaries.
- Given last year’s FTX debacle and the recent regulatory crackdown, VCs seem to have control in their own hands.
Cryptocurrency exchanges have been the center of attention since the end of 2022, owing to the FTX debacle. More recently, the regulatory crackdown on the two biggest exchanges in the world - Binance and Coinbase has spooked investors worldwide.
Venture Capitalists are capitalizing on this by bringing a new crypto marketplace that is compliant with regulatory rules.
Read more - Binance.US victory against the SEC makes XRP holders visualize a win of their own
Crypto enthusiasts launch new crypto exchange
Crypto has garnered not only the support of the people over the years but also of many financial institutions, which seem to be seeing its value now more than ever. However, the barrage of hurdles faced by existing crypto players has left investors counting losses but also fed these institutions a new idea.
Bitcoin ETP issuer Fidelity Management, for example, along with founding investors Charles Schwab, Citadel Securities, Paradigm, Sequoia Capital, and Virtu Financial, have launched a new crypto marketplace - EDX Markets. Touted to be the first of its kind digital asset marketplace, EDX Markets will be enabling digital asset trading through trusted intermediaries.
The crypto marketplace is also said to enable “complaint” trading bringing to light one of the bigger issues in the market at the moment - regulatory uncertainty. Earlier this month, the world’s two biggest crypto exchanges, Binance and Coinbase, were sued by the Securities and Exchange Commission (SEC) for violating Securities laws.
EDX Markets is sidestepping this hurdle by ensuring that its trading platform meets the current requirements. Nevertheless, even EDX Markets might not be completely safe from SEC’s rampant crackdowns since Coinbase, despite being compliant, is facing the same charges as Binance.
The new crypto marketplace also announced its new clearing house, EDX Clearing, following the latest funding round. Discussing the same, the CEO of EDX, Jamil Nazarali, stated,
“We are committed to bringing the best of traditional finance to cryptocurrency markets, with an infrastructure built by market experts to embed key institutional best practices. Looking ahead, EDX Clearing will be a major differentiator for EDX – and resolve an unmet need in the market – by enhancing competition and creating unparalleled operational efficiency through a single settlement process.”
At the time of launch, EDX Markets only supports the trading of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).
EDX Markets’ Traded products
Whether more cryptocurrencies will be later on is yet to be confirmed by EDX.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin miner Marathon Digital stock gains ground after listing by S&P Global
Following Bitcoin miner Marathon Digital's inclusion as an upcoming member of the S&P SmallCap 600, the company's stock received an 18% boost, accompanied by an $800 million rise in market cap.
Ethereum traders show uncertainty, SEC delays decision on Invesco's ETH ETF application
Ethereum holdings on centralized exchanges continue to decline despite recent whale sales. With the SEC delaying its decision on Invesco's spot ETH ETF application, Ethereum ETFs look more unlikely.
TON crosses $200 million in Total Value Locked as its network integration continues to scale
In a recent development, the TON network surpassed $200 million in total value locked (TVL) on Monday after seeing a major boost through The Open League reward program.
Grayscale GBTC sees second straight trading session of inflows at almost $4 million
Grayscale spot Bitcoin ETF has recorded inflows of over $3.9 million on Monday, marks second successive trading session of infux. GBTC broke 77-day deadlock pattern on Monday with up to $63 million inflows.
Bitcoin: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.