American companies Charles Schwab, Citadel Securities and Fidelity Digital Assets announced the launch of the digital asset exchange EDX Markets (EDXM), as stated in a press release.
Paradigm, Sequoia Capital and Virtu Financial also participated in creating the exchange. More partnerships with other market players are expected in the future.
The new exchange is designed to “satisfy latent demand for trading digital assets through trusted intermediaries,” ensuring safety and compliance.
“EDXM will create a highly liquid cryptocurrency ecosystem that aggregates liquidity from several market makers to reduce spreads and increase transparency,” said representatives of the exchange.
They say this approach will lead to improved pricing relative to other trading venues on the market.
EDX Markets will be accessible to both retail and institutional investors. The exchange’s trading infrastructure will be provided by MEMX, founded by Bank of America Merrill Lynch, Charles Schwab, Citadel Securities and other companies in 2019.
The exchange will be led by Jamil Nazarali, former head of business development at Citadel Securities. The chief technology officer will be Tony Akunya-Roter, formerly at ErisX.
According to WSJ, Fidelity Investments will launch Bitcoin trading for retail clients.
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