EDX Markets Enters US Crypto Scene Backed by Financial Giants

In short: EDX Markets, a cryptocurrency exchange backed by Fidelity Investments, Citadel Securities, and Charles Schwab, is planning to start operations in the US. The scope of the exchange's operations is still not clear, but it won't directly serve individual customers or handle customers’ digital assets. EDX Markets has partnered with regulated Paxos Standards for offering custodial solutions. Despite regulatory action by the US SEC, big market players such as BlackRock and Fidelity Investments are still keen to enter the crypto space.

Our quick analysis:
The US crypto market is experiencing a shake-up as EDX Markets makes a grand entrance. Backed by financial powerhouses such as Fidelity Investments, Citadel Securities, and Charles Schwab, the crypto exchange hopes to avoid the pitfalls experienced by FTX and Binance.

While the extent of its operations in the US is not yet clear, one thing is certain - EDX Markets will not serve individual customers or handle digital assets. Instead, it has partnered with Paxos Standard for custodial solutions, with customer assets placed in a bankruptcy-remote trust. This move is in line with the regulatory and security concerns of EDXM's offerings in the digital asset space.

As expected, the arrival of EDX Markets reflects the growing interest of large market players in the crypto scene, despite the SEC's recent lawsuits against Binance and Coinbase. In fact, BlackRock, one of the largest asset managers, has filed for a spot Bitcoin ETF and partnered with Coinbase for custodial services.

The traditional finance industry has taken note of the potential of cryptocurrencies and is taking steps towards merging the two worlds. Fidelity Investments has also expressed interest in crypto.

The influx of large financial institutions into the crypto market signals its resilience. In the words of Dawn Fitzpatrick, CEO of Soros Fund Management, "Crypto is here to stay." Rather than being a setback, recent events present an opportunity for traditional financial firms to take the lead.

The US crypto scene is evolving, and EDX Markets' entry shows that there are still more exciting developments to come. For more crypto news, stay tuned.

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Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.

The US crypto market is experiencing a shake-up as EDX Markets makes a grand entrance. Backed by financial powerhouses such as Fidelity Investments, Citadel Securities, and Charles Schwab, the crypto exchange hopes to avoid the pitfalls experienced by FTX and Binance.

While the extent of its operations in the US is not yet clear, one thing is certain - EDX Markets will not serve individual customers or handle digital assets. Instead, it has partnered with Paxos Standard for custodial solutions, with customer assets placed in a bankruptcy-remote trust. This move is in line with the regulatory and security concerns of EDXM's offerings in the digital asset space.

As expected, the arrival of EDX Markets reflects the growing interest of large market players in the crypto scene, despite the SEC's recent lawsuits against Binance and Coinbase. In fact, BlackRock, one of the largest asset managers, has filed for a spot Bitcoin ETF and partnered with Coinbase for custodial services.

The traditional finance industry has taken note of the potential of cryptocurrencies and is taking steps towards merging the two worlds. Fidelity Investments has also expressed interest in crypto.

The influx of large financial institutions into the crypto market signals its resilience. In the words of Dawn Fitzpatrick, CEO of Soros Fund Management, "Crypto is here to stay." Rather than being a setback, recent events present an opportunity for traditional financial firms to take the lead.

The US crypto scene is evolving, and EDX Markets' entry shows that there are still more exciting developments to come. For more crypto news, stay tuned.