Fidelity and Charles Schwab to launch EDXM cryptocurrency exchange

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The American companies Charles Schwab, Citadel Securities and Fidelity Digital Assets announced the launch of the EDX Markets (EDXM) digital asset exchange, according to press release.

Paradigm, Sequoia Capital and Virtu Financial also took part in the creation of the exchange. In the future, partnerships between EDX Markets and other market players are expected.

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The new exchange aims to “meet the latent demand for digital asset trading through trusted intermediaries” by ensuring security and compliance.

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“EDXM will create a highly liquid cryptocurrency ecosystem that aggregates liquidity from multiple market makers to reduce spreads and increase transparency,” the exchange said.

The result of this approach, according to them, will be improved pricing in comparison with the trading platforms on the market.

EDX Markets will be available to both retail and institutional investors. The exchange infrastructure will be provided by MEMX, founded by Bank of America Merrill Lynch, Charles Schwab, Citadel Securities and other companies in 2019.

The marketplace will be led by Jameel Nazarali, former Head of Business Development at Citadel Securities. Tony Acuña-Rother, formerly of ErisX, will take over as CTO.

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Source: Cryptocurrency

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