August 22, 2023 3:28 PM | 1 min read
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Institutional crypto exchange EDX Markets (EDX) has announced its collaboration with Anchorage Digital, a national trust charter from the U.S. Office of the Comptroller of the Currency (OCC), to serve as the custody provider for EDX’s soon-to-launch clearinghouse business, EDX Clearing.
This partnership aims to integrate traditional finance market structure standards into the digital asset realm, ensuring a secure and regulated environment.
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Jamil Nazarali, CEO of EDX, emphasized the significance of this collaboration, stating, “Anchorage Digital Bank, being the only federally chartered crypto bank in the US, is the ideal partner to support EDX’s build of a robust and compliant clearinghouse business.”
He further highlighted Anchorage Digital’s strong security, governance, risk, and compliance framework as pivotal in meeting the needs of EDX’s institutional clientele.
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Diogo Mónica, co-founder and president of Anchorage Digital echoed these sentiments, emphasizing the importance of adopting traditional finance blueprints to usher in the next phase of institutional crypto.
He noted, “Anchorage Digital has proven that separating custody and exchange functions for institutions is essential. We are proud to support forward-looking entities like EDX Clearing in our ongoing mission to promote a safer crypto market structure.”
EDX, which commenced trading in June 2023, enjoys the backing of prominent financial institutions such as Citadel Securities, Fidelity Digital Assets, Virtu Financial, and Charles Schwab, among others.
With the introduction of EDX Clearing, the platform aims to provide a unified settlement process, enhancing both capital and operational efficiency.
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