According to the news of the Wall Street Journal, the cryptocurrency exchange "EDX Markets", supported by leading giant companies, has been launched.
Different from traditional crypto exchanges, EDX Markets is backed by market leaders such as Citadel Securities, Fidelity Investments, Charles Schwab, Paradigm, Sequoia Capital, and Virtu Financial.
It is stated that EDX Markets will currently include cryptocurrencies on its platform that are not qualified as securities by the SEC, and in this context, it will only offer Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC) trading services.
It was stated that this approach of EDX Markets indicates that it does not want to have any problems with the SEC in the future.
Unlike traditional cryptocurrency exchanges, EDX said it leverages traditional financial standards but will operate as a "non-protective" exchange and will not directly trade customers' digital assets.
In this context, EDX Markets stated that it will provide a platform where firms can trade between cryptocurrencies and fiat currencies.
It was also announced that EDX, unlike most crypto exchanges, will not directly serve individual investors.
A Citadel Securities spokesperson said in a statement:
“EDX will largely leverage standard practices in traditional and regulated financial markets, but adopt a different strategy from the traditional operation of crypto exchanges.”