What Makes Business Leaders Influential in 2025?
01/22/2025
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With technological advancements, shifting consumer expectations, and global interconnectedness, the role of business leaders
June 26, 2023: On Thursday, the company stated a crypto exchange supported by financial Charles Schwab, Fidelity Digital Assets, and Citadel Securities has officially established trading in four crypto assets.
EDX Markets first reported its takeoff plans for a “non-custodial” exchange two months before the collapse of FTX. Paradigm, Sequoia Capital and Virtu Financial are among the other early backers.
The report comes days after BlackRock applied to launch what would be the first spot bitcoin exchange-traded fund in the U.S., confirmation that despite the crypto enterprise’s black eye from FTX and other bad actors in 2022 and the chill from U.S. regulators, long-term institutional interest has not reduced.
The EDX exchange allows trading of bitcoin, ether, litecoin, and bitcoin cash, none of which were named “crypto asset securities” in the lawsuits the U.S. Securities and Exchange Commission brought opposite Binance and Coinbase two weeks ago.
EDX has said it aims to “meet the needs of the world’s largest and most sophisticated financial organizations,” many of which remain crypto curious but skeptical of centralized crypto services providers, if not because of the failures of many in 2022, then because of the regulatory delay the remaining instrumentalists now find themselves in.
To quell any fears about abuse of funds, EDX plans to operate as a “non-custodial” exchange, meaning that rather than handling customer assets directly, it will act as a forum on which a network of firms can execute and settle trades between crypto assets and fiat currencies.
EDX also has programs to launch a clearinghouse company this year to facilitate the settlement process but will keep customer assets held at third-party banks and a crypto custodian.
The company also announced it had closed a second funding round with new investors, including the options-exchange operator Miami International Holdings and affiliates of proprietary trading firms DV Trading, GTS, GSR, and Hudson River Trading.
With technological advancements, shifting consumer expectations, and global interconnectedness, the role of business leaders
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With technological advancements, shifting consumer expectations, and global interconnectedness, the role of business leaders
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