Wall Street firms are joining the crypto world with their newest crypto exchange.
Leading Wall Street firms join forces to launch crypto exchange EDX Markets (EDXM).
According to the press release, EDX Markets aims to “address latent demand for digital asset trading” by allowing safe and compliant trading through “trusted intermediaries.”
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The new crypto exchange is designed for both retail and institutional investors. The EDMX aims to offer better prices compared to other cryptocurrency exchanges. Moreover, it intends to create “a highly liquid cryptocurrency ecosystem.”
EDX Market is supported by financial leaders, such as Paradigm, Charles Schwab, Sequoia Capital, Citadel Securities, Virtu Financial, and Fidelity Digital Assets℠. However, the press release highlights that it is expected that over time, more partners will join the group.
Chief Executive Officer of EDXM, Jamil Nazarali, when talking about the release of the exchange, stated:
We look forward to welcoming additional participants to the exchange, which will drive ongoing trading in this important asset class while creating a virtuous cycle of continually enhanced liquidity and efficiency supported by MEMX’s cutting-edge technology.
The EDXM Markets will operate on the Members Exchange (MEMX) technology, claiming that it will meet the high standards of financial institutions and retail investors.
Commenting on the Members Exchange (MEMX) technology, EDXM’s Board of Directors noted:
With MEMX-supported digital infrastructure that eliminates technological and organizational bottlenecks, EDXM will be a safe entry point to crypto and serve as the exchange of choice for trading digital assets on a platform designed for and used by leading financial institutions.
CEO of MEMX Jonathan Kellner highlighted that it is a perfect opportunity for the company to bring its technology to new horizons.
We are excited to partner with EDXM on this important and innovative venture. This marks a new chapter for MEMX as we bring our scalable market technology to other asset classes and market operators.
Above all, the press release notes that EDX Markets aims to provide a fast, secure, and efficient crypto trading platform for US investors.