Fidelity, Charles Schwab, Citadel, and Other Financial Heavyweights Launch Bitcoin Exchange ‘EDX Markets (EDXM)’

By leveraging a network of select digital custodians to safeguard assets, trades will be netted and settled on the blockchain for greater speed and efficiency at lower cost, eliminating the need for expensive bilateral settlement. Customer security and regulatory compliance are also core foundational principles for EDXM. In particular, it will remove significant conflicts of interest that affect existing cryptocurrency exchanges by separating responsibility for operating the exchange from the entities trading on it.It is not clear if users will be able to take self custody of bitcoin and other assets traded on the platform.

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