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Citadel, Schwab, Fidelity, Virtu & other broker-dealers launch EDX Markets digital asset exchange

The new EDX Markets will be a new exchange that primarily operates in the digital asset trading market, including cryptocurrencies.

TJ Denzer

November 17, 2022 2:55 PM

Image via EDX Markets

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Even as cryptocurrency sits in a bit of a slump, there are still folks moving to buy, sell, and trade in the space, and it seems like soon we’ll have another platform for trading digital assets. Citadel, Schwab, Fidelity, Virtu, and further broker-dealers have formed a global consortium to launch EDX Markets, which will act as a new platform on which to trade cryptocurrencies and other digital assets in a supposably safe, efficient, and trustworthy environment.

Citadel, Schwab, and the rest of the consortium behind EDX Markets announced its launch in a press release on Business Wire on November 17, 2022. The group is aiming to make EDX Markets a "first-of-its-kind exchange that will address latent demand for digital asset trading by enabling safe and compliant trading of digital assets through trusted intermediaries.” Through the backing of some of the world’s largest market makers in the stock market, EDX Markets is meant to be a safer and less costly way to buy and trade cryptocurrency in comparison to current exchange platforms.

Former Citadel Securities Global Head of Business Development Jamil Nazarali will serve as Chief Executive Officer of EDXM and was happy to share in the announcement of the platform with a statement:

It's interesting to see another cryptocurrency exchange pop up, especially in the wake of the last week when another major crypto exchange, FTX, just filed for chapter 11 bankruptcy. Nonetheless, with EDX Markets backed by such major players in investments and the stock market, it may fair a little better than many of the crypto ventures that have seemingly collapsed overnight or lost millions of dollars quickly. As EDX Markets launches, stay tuned for further updates and news on from the cryptocurrency and NFT space.

TJ Denzer

Senior News Editor

TJ Denzer is a player and writer with a passion for games that has dominated a lifetime. He found his way to the Shacknews roster in late 2019 and has worked his way to Senior News Editor since. Between news coverage, he also aides notably in livestream projects like the indie game-focused Indie-licious, the Shacknews Stimulus Games, and the Shacknews Dump. You can reach him at tj.denzer@shacknews.com and also find him on Twitter @JohnnyChugs.