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Revolutionizing Crypto Asset Management: EDX Markets Teams Up with Anchorage Digital for Unrivaled Custody Solution

Jack Evans
Aug 23, 2023 at 10:06 am

In an exciting development that has sent ripples through the crypto industry, EDX Markets, the dynamic cryptocurrency exchange boasting powerful backing from Charles Schwab and Citadel Securities, has strategically chosen Anchorage Digital as its premier digital asset custodian. This partnership stands as a testament to the ever-innovating spirit of the crypto sphere, where the intersection of cutting-edge technology and traditional financial wisdom converges.

Since its inception earlier this year, EDX Markets has been on a mission to redefine how crypto assets are managed and traded. The collaboration with Anchorage Digital aligns seamlessly with this vision, enabling the exchange to revolutionize trade settlement through its soon-to-launch clearinghouse business, slated to debut next month, as reported by Bloomberg. The move is a bold stride towards a future where the role of custodians and exchanges can exist independently, allowing investors to relinquish the worry of parked assets in uncertain entities.

Jamil Nazarali, the visionary CEO of EDX Markets, emphasized the significance of this transformational step: "As the crypto asset class is maturing, we are separating the role of the custodian and exchange. Customers don’t need to tie up assets parked at an entity where they aren’t sure what’s going on."

Central to EDX Markets' unique value proposition is its unwavering commitment to non-custodial trading. In a departure from conventional practices, the exchange does not hold user funds, establishing an unparalleled level of trust for its users. This approach mirrors the practices observed in traditional stock and bond trading venues, where asset custody and settlement are distinct entities. This distinctive stance empowers institutional investors on the platform to maintain control over where their assets are stored, relinquishing the compulsion to entrust their holdings solely to the exchange.

Nazarali underlines the forward-looking approach of the exchange, hinting at potential collaborations with other custodial partners based on customer preferences. He emphasized, "the company is 'getting closer to the tested solutions you see in the traditional financial world'."

In an era of rapid evolution and innovation, EDX Markets' visionary collaboration with Anchorage Digital signifies a pivotal moment in the trajectory of cryptocurrency management. This partnership encapsulates the essence of a transformative market structure shift, offering crypto investors a harmonious amalgamation of cutting-edge technology and time-honored financial practices. As the crypto landscape matures, EDX Markets emerges as a beacon of change, steering the industry towards a future where security, trust, and control converge seamlessly in the realm of digital asset management.

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