EDX Markets Takes a Major Step Forward
EDX Markets, a crypto exchange supported by prominent financial institutions such as Fidelity Digital Assets, Charles Schwab, and Citadel Securities, is significantly expanding its crypto offerings by adding 17 new cryptocurrencies to its platform. This strategic move aims to enhance its previously limited selection and cater to the rising institutional demand for digital assets.
Building for Institutional Demand
CEO Tony Acuña-Rohter, who took the helm in December after Jamil Nazarali transitioned to the role of executive chair, stated, “From the outset, we were designed and built for institutions for exactly what’s happening right now.” He emphasized the fortunate timing of their development, noting that the challenges faced by the crypto market—such as the FTX collapse and the subsequent crypto winter—allowed EDX Markets to refine its technology over the past two years. “Now we have this company that’s ready to absorb all the new entrants from traditional finance,” he added.
Diverse New Cryptocurrency Offerings
The newly added cryptocurrencies include a diverse range of tokens, such as:
– AAVE (Aave)
– BCH (Bitcoin Cash)
– COMP (Compound)
– LINK (Chainlink)
– PEPE (Pepecoin)
– SOL (Solana)
– UNI (Uniswap)
– USDC (USD Coin)
– WIF (Dogwifhat)
– XRP (Ripple)
– AVAX (Avalanche)
– ADA (Cardano)
– BONK (Bonk Coin)
– Stellar Lumens (XLM)
– TRUMP (Trump Coin)
– XTZ (Tezos)
– ETC (Ethereum Classic)
This expanded selection is expected to attract a broader range of clients and positions EDX Markets as a comprehensive trading platform.
A Conservative Approach to Regulation
Acuña-Rohter highlighted the exchange’s conservative stance on regulatory matters, stating, “We tend to be very conservative from a regulatory perspective.” The new administration’s focus on providing clarity, rather than pursuing enforcement actions against crypto companies, has also mitigated risks associated with adding new tokens.
Unique Trading Structure
Unlike many other crypto exchanges, EDX Markets does not hold customers’ digital assets directly. Instead, it operates similarly to traditional stock exchanges, where users trade through financial intermediaries. This structure not only appeals to institutional clients but also reassures regulators by maintaining a clear separation between exchange and broker-dealer functions.
Future Growth and New Ventures
While EDX Markets has maintained a limited offering in the past, primarily featuring bitcoin (BTC), ethereum (ETH), and litecoin (LTC), the integration of these new assets aims to establish the exchange as a one-stop-shop for global clients.
Looking ahead, the company plans to launch a perpetual futures exchange in the second quarter of the year, based in Singapore but accessible to jurisdictions worldwide where perpetual futures trading is permitted—excluding the U.S.
In its home market, EDX continues to focus on expanding its product offerings and onboarding traditional financial clients. Acuña-Rohter noted that the company is actively collaborating with various clients to solidify their integration plans.
Seizing the Moment
As EDX Markets embarks on this significant expansion, Acuña-Rohter expressed optimism about the future, stating, “This is the moment we’ve been waiting for.” With its enhanced offerings and focus on institutional demand, the exchange is poised for growth in the evolving landscape of cryptocurrency trading.
