Bitcoin Cash Exits Citadel-Backed EDX Markets: What This Means for the Crypto Market

EDX Markets, a reputable institutional crypto exchange with support from financial giants like Citadel Securities, Fidelity Digital Assets, and Charles Schwab Corporation, has made a surprising move. The platform has delisted Bitcoin Cash (BCH), as observed by the vigilant crypto reporter, Colin Wu. To shed light on this unexpected development, Digital Assets had the opportunity to discuss it with Jeanine Hightower-Sellitto, Chief Strategy Officer of EDX Markets. Her statement confirmed the removal, noting that "EDX is not currently supporting BCH," although the exact reasons behind this decision remain shrouded in mystery.

When Bitcoin Cash was initially introduced on the EDX Markets platform, it joined the ranks of Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), available for trading. However, the aftermath of its listing was nothing short of astonishing. BCH's value soared by an impressive 112% in just one week, a surge that left many market observers wondering if such volatility played a role in the subsequent changes.

EDX Markets, with its illustrious backing and impressive aspirations, is positioning itself to cater to the specific requirements of major financial institutions. Their unique approach as a "non-custodial" exchange aims to address the skepticism surrounding centralized crypto service providers. Furthermore, the company is set to launch a clearinghouse business later this year to streamline the settlement process. Yet, they remain committed to safeguarding customer assets through trusted third-party banks and a dedicated crypto custodian.

The sudden delisting of Bitcoin Cash from EDX Markets raises questions about the crypto market's ever-evolving landscape. As we continue to witness rapid transformations in the digital currency realm, this move serves as a reminder that adaptability and innovation are key to success. EDX Markets' pursuit of a non-custodial approach and its backing from industry leaders show that the crypto world is not just about what's here today but also about what's coming next. Stay tuned for more exciting developments in this dynamic space.

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