Citadel-Backed Crypto Exchange EDX Selects Anchorage Digital As Custodial Partner

EDX Markets, a crypto exchange backed by leading financial institutions, including Charles Schwab and Citadel Securities, has partnered with the digital asset platform and infrastructure provider Anchorage Digital to strengthen its clearing and custody capabilities.

The collaboration aims to facilitate seamless settlement of trades conducted on the exchange through EDX Clearing, ensuring enhanced capital and operational efficiency.

Traditional Finance Practices Meet Institutional Crypto Trading?

Jamil Nazarali, CEO of EDX, has confirmed that the exchange’s clearing business is set to go live next month, highlighting the significance of the collaboration. He further claimed:

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

On the other hand, Diogo Mónica, Co-Founder and President of Anchorage Digital, has emphasized the importance of separating custody and exchange functions in institutional crypto trading. This collaboration aligns with EDX’s objective of advancing a safer crypto market structure.

Per the announcement, this partnership ensures that institutions trading on EDX can have confidence in the integrity and safety of their assets, thereby bolstering trust and regulatory compliance.

Regulatory approval and adherence to robust security measures are paramount as the crypto industry evolves. The EDX-anchored partnership with Anchorage Digital facilitates compliance with US regulatory bodies.

By aligning with trusted custodial partners, EDX aims to set a precedent for the industry and contribute to the establishment of a more mature

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Author: Ronaldo Marquez

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