{"id":80510,"date":"2023-06-20T17:05:52","date_gmt":"2023-06-20T14:05:52","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=80510"},"modified":"2025-09-11T17:25:06","modified_gmt":"2025-09-11T14:25:06","slug":"edx-crypto-exchange-backed-by-citadel-securities-fidelity-investments-and-charles-schwab-quietly-begins-operations","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/edx-crypto-exchange-backed-by-citadel-securities-fidelity-investments-and-charles-schwab-quietly-begins-operations\/","title":{"rendered":"EDX crypto exchange, backed by Citadel Securities, Fidelity Investments and Charles Schwab, quietly begins operations"},"content":{"rendered":"

EDX Markets, previously backed by Citadel Securities, Fidelity Investments and Charles Schwab, quietly began operations. WSJ<\/a>.<\/p>\n

According to the publication, an official statement on the platform’s launch is expected on Tuesday, June 20.<\/p>\n

EDX is targeted at investors interested in digital assets but wary of regulatory issues like those facing Coinbase<\/a> or Binance<\/a>.<\/p>\n

According to the company, its approach is based on standard practices of traditional financial markets. EDX does not custody client assets, but provides a trading venue for executing trades.<\/p>\n

During 2023 the exchange plans to launch a clearing house, but even after that will continue to rely on banking and custodial services for user funds.<\/p>\n

EDX also does not service retail investors directly. Brokerage firms representing their interests will interact with the platform.<\/p>\n

The exchange supports four cryptocurrencies: Bitcoin, Ethereum, Litecoin and Bitcoin Cash. None of these assets has been classified as securities by the SEC<\/span> in its lawsuits against trading platforms.<\/p>\n

Charles Schwab, Citadel Securities and Fidelity Digital Assets in September 2022 announced the launch of EDX<\/a>. According to the WSJ, in the second round of financing the exchange was backed by Virtu Financial, venture firms Sequoia Capital and Paradigm, the options-trading platform Miami International Holdings, as well as DV Trading and Hudson River Trading.<\/p>\n

CEO Jamil Nazarali previously headed the business-development division at market maker Citadel Securities. A representative of the latter confirmed to the publication that the firm is already trading on the platform.<\/p>\n

In October 2021, Citadel founder Kenneth Griffin stated<\/a> that his firm would not back digital assets until the market is properly regulated.<\/p>\n

In April 2022 he admitted<\/a> that his skepticism about cryptocurrencies had been mistaken. Subsequently, the entrepreneur announced<\/a> plans for Citadel to enter the virtual assets market as a liquidity provider.<\/p>\n

As reported in June 2022, the market maker planned to build an ‘ecosystem’ for trading cryptocurrencies<\/a> with the backing of Virtu Financial, Sequoia Capital and Paradigm.<\/p>\n","protected":false},"excerpt":{"rendered":"

EDX Markets, the crypto exchange backed by Citadel Securities, Fidelity Investments and Charles Schwab, quietly began operations, according to WSJ.<\/p>\n","protected":false},"author":1,"featured_media":80511,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,2252,1248],"class_list":["post-80510","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-citadel","tag-fidelity-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"32","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80510","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=80510"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80510\/revisions"}],"predecessor-version":[{"id":80512,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80510\/revisions\/80512"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/80511"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=80510"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=80510"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=80510"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}