A consortium of leading Wall Street broker-dealers, global market makers, and venture capital firms have announced the launch of a first-of-its-kind crypto exchange called EDX Markets (EDXM) that will be operated like a traditional stock exchange.
In a press statement, early backers of the exchange were revealed to include Charles Schwab, Citadel Securities, Fidelity Digital Assets, Paradigm, Sequoia Capital, and Virtu Financial, with more partners expected to back the exchange over time.
EDXM's leadership includes CEO Jamil Nazarali, formerly Global Head of Business Development at Citadel Securities, CTO Tony Acuña-Rohter, formerly Chief Technology Officer at ErisX, and General Counsel David Forman, formerly Chief Legal Officer at Fidelity Brokerage Services and General Counsel for Fidelity Digital Assets.
The crypto exchange will operate as an independent entity by allowing investors to trade cryptocurrencies that have been confirmed to not be securities through their existing...
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