EDX Markets, a crypto exchange backed by Wall Street giants such as Citadel Securities and Charles Schwab, has partnered with Anchorage Digital to provide custody for its upcoming clearinghouse business. EDX CEO Jamil Nazarali said in a statement that Anchorage, the only federally chartered crypto bank in the U.S., was the ideal partner for the exchange.
Unlike other crypto exchanges, EDX Markets does not hold customers’ assets, and users must go through financial intermediaries to buy and sell crypto assets. This is why the partnership with Anchorage Digital is so important. Co-founder and President of Anchorage Digital, Diogo Monica, said that drawing from the blueprint of traditional finance will be critical to unlocking the next phase of institutional crypto.
EDX Markets began operations earlier this year with the support of investors such as Fidelity, Schwab, Paradigm, Sequoia Capital, and Citadel. Currently, the exchange offers four tokens – Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) – and plans to add more once there is more clarity around regulation in the U.S.