Institutional crypto exchange EDX Markets (EDX) has selected Anchorage Digital, a regulated crypto platform that provides institutions with integrated financial services and infrastructure solutions, to serve as the custody provider for EDX’s clearinghouse business (EDX Clearing) when it launches later this year. Anchorage Digital will provide safe, secure and regulated infrastructure for EDX to break new ground in bringing market structure standards from traditional finance to the digital asset ecosystem.
Jamil Nazarali, CEO of EDX, stated, “EDX is committed to bringing the best traditional finance market structures to the digital asset ecosystem, and this is the latest step in our journey to promote a safer crypto marketplace. Anchorage Digital has a robust security, governance, risk and compliance framework, which will provide a best-in-class solution to meet the needs of our institutional client base. As the only federally chartered crypto bank in the US, Anchorage Digital Bank is the ideal partner to support EDX’s build of a robust and compliant clearinghouse business.”
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“Drawing from the blueprint of traditional finance will be critical to unlocking the next phase of institutional crypto,” said Diogo Mónica, Co-Founder and President of Anchorage Digital. “Anchorage Digital has proven that separating custody and exchange functions for institutions isn’t just possible, it’s essential. We are proud to provide custody infrastructure for forward-looking players like EDX Clearing as part of our continued efforts to advance a safer crypto market structure.”
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EDX launched trading in June 2023 and is backed by a consortium of major financial institutions, including Citadel Securities, Fidelity Digital Assets, Virtu Financial, Charles Schwab, Sequoia, Paradigm and others.
EDX Clearing will settle trades matched on EDX, providing a single settlement process to increase capital and operational efficiency. EDX Clearing will provide clearing services to EDX exchange members using Anchorage Digital Bank for custody of traded assets. By leveraging secure-by-design custody infrastructure from Anchorage Digital, EDX Clearing will give institutions peace-of-mind when trading on EDX.
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