Wall Street giants want to set up a crypto exchange

On the evening of September 13, the Twitter social network spread the news that a series of Wall Street financial giants would join hands to build a crypto exchange called EDX Markets (EDXM).

Wall Street giants join forces to set up a crypto exchange

Accordingly, EDX Markets (EDXM) will be jointly built by organizations including Charles Schwab, Citadel Securities, Fidelity Digital Assets, Paradigm, Sequoia Capital and Virtu Financial, while providing services only to citizen users. and American institutions.


EDX Markets claims to leverage the best technologies from the founding institutions, combined with business know-how drawn from the traditional financial markets to provide safe and efficient digital asset trading. fruit. The press release reads:

“EDXM will create a crypto ecosystem rich in liquidity from various market makers to reduce arbitrage and increase transparency. Committed to price formation and efficiency assurance will bring better trading prices to investors, compared to current exchanges.”

The exchange management team includes CEO Jamil Nazarali – former Global Sales Director of Citadel Securities, CTO Tony Acuña-Rohter – former Chief Technology Officer of derivatives exchange ErisX and Legal Advisor Mr. for a time as Chief Legal Officer for Fidelity Investments.

However, there is not much more information on the launch date, products and cryptocurrencies that EDX Markets will support.

This is the largest attempt to enter the crypto space from the Wall Street giants in just a few months. Previously, in August, asset management group BlackRock announced that it had partnered with Coinbase to provide the ability to buy crypto for customers. Another giant, Fidelity, also announced a similar move earlier this week.

The US is a potential country for cryptocurrency trading with the appearance of many familiar names in the industry such as Coinbase or FTX. However, the biggest obstacle here is the difficult and easily changeable legal barrier.

FoxCryptoNews summary

Sep 14, 2022

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