Edx Markets, who is supported by Fidelity Digital Assets, Charles Schwab and Citadel Securities, adds 17 new cryptocurrencies to his platform, transforming his selection previously limited into a more robust trading platform while it is about To absorb the growing institutional demand of crypto.
“From the start, we were designed and built for institutions for exactly what is going on at the moment,” CEO of Edx Markets, Tony Acuña-Rohter told Coindesk.
Acuña-Rohter was appointed CEO of The Exchange in December after the founder and the then CEO, Jamil Nazarali, moved to the position of executive chairman of the EDX board of directors. “We were lucky enough because FTX occurred, Crypto Winter followed, which gave us two years to build our technology,” said Acuña-Rohter. “Now we have this company which is ready to absorb all the new entrants of traditional finance.”
The newly listed tokens include Aave (Aave), BCH (Bitcoin Cash), Compound), Link (ChainLink), Pepe (Pepectoin), Sol (Solana), Uni (Uniswap), USDC (USD corner), Wif (Dogwifhat . (Tezos), etc. (Ethereum Classic).
“We tend to be very conservative from a regulatory point of view and because we focus on institutions, we also make sure that we have very clear processes, policies and procedures”, Saidacuña-Rohter. The risk of adding the new tokens has decreased considerably with the new administration, which is very focused on clarity rather than the application of actions against cryptographic companies, he added.
The exchange, which is available for institutions only, was launched in the United States in June 2023 and made the headlines of large companies in Wall Street Fidelity, Schwab, Paradigm, Sequoia Capital and Citadel, the latter being a former employer of Nazarali.
A key difference between EDX markets and other Crypto exchanges is that it does not have the digital assets of customers. Instead, users are negotiating financial intermediaries, as is the way transactions occur on traditional scholarships such as the New York Stock Exchange or Nasdaq. This structure uses regulators, explained the CEO of EDX, Jamil Nazarali, because it ensures a clear separation between the functions of exchange and broker.
However, EDX markets have kept its low asset offers in the past two years, sticking to Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC).
By integrating a basket of new assets, the exchange hopes to develop its customers and be a one -stop shop for customers in the world.
The company also plans to introduce a perpetual term exchange in the second quarter of this year, which will be based in Singapore but available to jurisdictions around the world which allow trade in perpetual term contracts. This does not include the United States
In the United States, where the company is based, EDX continues to focus on expanding its product offers and integrated customers from the traditional financial world, said Acuña-Rohter, noting that the company is already working with various customers to solidify their plans and map their integrations in space.
“This is the moment when we expect,” he said.
