EDX Market introduces a non-custodial model backed by prominent industry leaders, prioritizing security, minimizing conflicts of interest, and paving the way for greater adoption of cryptocurrencies in the evolving crypto exchange landscape.
- EDX Market is a new entrant to the crypto exchange industry with a non-custodial model backed by major financial institutions.
- The exchange’s non-custodial approach ensures that client assets are held in custody by third-party banks, minimizing concerns about misappropriation of funds.
- EDX Market aims to attract institutional investors by providing a reliable platform that adheres to the best practices of traditional finance.
- With enhanced security, reduced risk, and initial support for four cryptocurrencies, EDX Market has the potential to shape the future of crypto exchanges and drive greater adoption in the industry.
EDX Market joins the Crypto Exchange ecosystem
The world of cryptocurrency exchanges is constantly evolving and new entrants are constantly vying to make their mark.
Among them is EDX Market, a new player that has recently emerged with a non-custodial model backed by leading financial institutions and industry leaders such as Fidelity Investments, Citadel Securities and Charles Schwab. The Centralized Exchange (CEX) officially launched on June 20.
This article examines the unique features of EDX Market’s non-custodial model and its potential impact on the future of crypto exchanges.
A non-preservative approach
One of the key differentiators of EDX Market is its non-custodial model. Unlike traditional exchanges, where the platform holds clients’ crypto assets, EDX Market takes a different approach.
The exchange ensures that customers’ assets are held by third-party banks acting as crypto custodians. This approach minimizes concerns about potential misappropriation of funds and offers clients greater peace of mind.
Minimize conflicts of interest
By adopting a non-custodial model, EDX Market strives to minimize conflicts of interest in custodial exchanges. This is especially important for large financial institutions seeking exposure to cryptocurrencies.
EDX Market positions itself as a reliable platform that aligns with the best practices of traditional finance and attracts industry leaders who may be hesitant about centralized custody services.
Enhanced security and reduced risk
The non-custodial nature of EDX Market’s platform brings inherent security benefits. Since the exchange does not hold customer tokens, the risk of asset loss due to exchange hacks is greatly reduced.
In addition, clients can enjoy lower trading costs without the additional costs associated with custodial services. This combination of enhanced security and reduced risk makes EDX Market an attractive option for institutional and individual traders.
Steer clear of regulatory scrutiny
EDX Market’s non-custodial model emerges unscathed amid SEC lawsuits against exchanges. With a strategic positioning that appeals to major financial institutions, EDX aims to meet their crypto exposure needs while easing concerns about centralized crypto service providers.
Limited initial offers
At launch, EDX Market supports trading in four prominent cryptocurrencies: Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).
While supply is currently limited, the exchange can focus on ensuring liquidity, competitive pricing and a robust trading experience for these initial assets.
As the exchange expands and matures, it is likely to feature a wider range of cryptocurrencies to meet the changing needs of its users.
Future plans and investor support
EDX Market has ambitious plans for the future. While the exchange currently acts as a platform for executing and settling trades, it plans to launch a clearing house company later this year to facilitate outright settlements. This expansion will improve the end-to-end trading experience for its users, further cementing its position in the crypto exchange landscape.
In addition, the recent funding round, which attracted investors such as Miami International Holdings and affiliates of proprietary trading firms DV Trading, GTS, GSR and more, demonstrates the confidence and support the industry has in EDX Market’s non-custodial model and its potential. for success.
Paving the way for greater adoption of cryptocurrencies
EDX Market’s non-custodial model marks a major step forward in the evolution of crypto exchanges. By putting security first, minimizing conflicts of interest and providing a robust trading experience, the exchange has positioned itself as an attractive option for traders.
As the crypto market continues to grow and mature, EDX Market’s innovative approach and investor support suggest it has the potential to shape the future of crypto exchanges and pave the way for greater adoption and confidence in the industry .