What happens when the world’s leading financial institutions back a new crypto exchange? They turn to the esteemed digital asset management services of Anchorage Digital. EDX Markets (EDX), the new entrant in the crypto exchange space, has announced that Anchorage Digital will serve as the custody provider for its clearinghouse arm, EDX Clearing, set to launch later this year.
Anchorage Digital: A Partner of Choice
The choice to partner with the San Francisco-based digital custodian, Anchorage Digital, was not made lightly. Jamil Nazarali, CEO of EDX, emphasized that Anchorage Digital’s crypto-native bank holds a banking charter from the Office of the Comptroller of the Currency (OCC), the regulator of national banks in the US.
“Anchorage Digital offers a robust security, governance, risk, and compliance framework. This will provide a best-in-class solution to meet the needs of our institutional client base,” Nazarali explained. “As the only federally chartered crypto bank in the US, Anchorage Digital Bank is the ideal partner to support EDX’s development of a robust and compliant clearinghouse business.”
EDX: Backed by Financial Titans
EDX began trading in June with the support of financial giants that include Citadel Securities, Fidelity Digital Assets, Virtu Financial, and Charles Schwab, Sequoia, and Paradigm. EDX Clearing will settle trades matched on its exchange, which currently supports four cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).
The clearinghouse will utilize Anchorage Digital Bank for the custody of traded assets, further cementing the role of this crypto exchange and custody provider in the financial institutions’ world.
Keeping an Eye on the Crypto World
With the rapid evolution of the crypto market, it’s crucial to stay informed. A tool like cryptoview.io can be an excellent ally for those wanting to keep a finger on the pulse of the crypto world. This application offers a comprehensive view of the crypto market, allowing users to track their portfolio and stay updated on market trends.
With the rise of crypto exchanges like EDX and the increasing trust in custody providers like Anchorage Digital, it’s clear that the integration of cryptocurrencies into traditional financial institutions is no longer a distant future, but a present reality.
