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EDX Markets

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EDX Markets
Company typePrivately held company
Founded2022
Headquarters
Hoboken, New Jersey
,
United States
Key people
Jamil Nazarali (CEO)
ProductsBitcoin, Ethereum, Litecoin
Websiteedxmarkets.com

EDX Markets is an institutional cryptocurrency exchange backed by Citadel Securities, Fidelity Digital Assets, Charles Schwab Corporation, Virtu Financial and Sequoia among others.[1][2][3] The exchange offers trading in bitcoin, Ethereum, Litecoin, and Bitcoin Cash.[4][5][6] EDX offers a non-custodial model, meaning that it does not hold clients' digital assets.[7][4] The exchange began processing trades in June 2023.[8]

The company's CEO, Jamil Nazarali, was formerly global head of business development at Citadel Securities.[9][10]

History

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EDX Markets was founded in 2022.[11]

In 2023, the company launched EDX Clearing, a central clearinghouse for trades.[12]

Funding

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In January 2024, EDX completed their series B round of funding led by Pantera Capital and Sequoia Capital, for an undisclosed amount.[13] The company plans to use the funding to expand outside of the US.[13]

See also

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References

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  1. ^ "Crypto exchange EDX Markets launches with institutional backing". Axios. Retrieved 30 June 2023.
  2. ^ "Citadel Securities-Backed Crypto Exchange EDX Drops Paxos for Anchorage". Bloomberg News. Retrieved 30 June 2023.(subscription required)
  3. ^ "About EDX". EDX Markets. Retrieved 30 June 2023.
  4. ^ a b "Crypto Exchange Backed by Citadel Securities, Fidelity Goes Live". Bloomberg News. Retrieved 30 June 2023.(subscription required)
  5. ^ "Digital Asset Platform EDX Markets Begins Trading and Completes New Funding Round". www.businesswire.com. 2023-06-20. Retrieved 2024-02-23.
  6. ^ Quiroz-Gutierrez, Marco. "Bitcoin Cash more than doubles after being offered by new exchange EDX Markets". Fortune Crypto. Retrieved 2024-10-04.
  7. ^ "Crypto Exchange Backed by Citadel Securities, Fidelity, Schwab Starts Operations". The Wall Street Journal. Retrieved 30 June 2023.(subscription required)
  8. ^ "Wall Street Is Launching a Crypto Exchange. Why That's a Threat to Coinbase". Barron's. Retrieved 30 June 2023.(subscription required)
  9. ^ "'Bringing some of the investor protections to it': How EDX Markets is embracing TradFi to become the safest bet in crypto". Fortune. Retrieved 30 June 2023.(subscription required)
  10. ^ "Citadel Securities' Business Head Nazarali Leaves for Joint Crypto Venture With Virtu". Bloomberg News. Retrieved 30 June 2023.
  11. ^ "Digital Asset Exchange EDX Markets Launches with Backing from Leading Broker-Dealers, Global Market Makers and Venture Capital Firms". www.businesswire.com. 2022-09-13. Retrieved 2024-02-23.
  12. ^ Frankjkovic, Teuta (26 June 2023). "What is EDX? Here's Everything We Know About Wall Street-Backed Crypto Exchange". ccn.com. Retrieved 23 February 2024.
  13. ^ a b "EDX Plans Asia Crypto Exchange With Funding From Sequoia and Pantera Capital". Bloomberg.com. 2024-01-23. Retrieved 2024-02-23.
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