Edx Markets, which is supported by Active Fidelity Digital, Charles Schwab and Citadel Securities, is adding 17 new cryptocurrencies to its platform, transforming its previously limited selection into a more robust commercial platform as it prepares to absorb the growing institutional demand for cryptogram .
“From the beginning, we were designed and built for institutions to exactly what is happening at this time,” said Edx Markets CEO, Tony Acuña-Rohter, to Coindesk.
Acuña-Rohter was appointed CEO of the exchange in December after the founder and then Ceo Jamil Nazarali moved to the position of Executive President of the Board Edx. “We were quite fortunate because FTX happened, Crypto Winter continued, which gave us two years to build our technology,” said Acuña-Rohter. “Now we have this company that is ready to absorb all the new participants of traditional finances.”
The newly listed tokens include AAVE (AAVE), BCH (Bitcoin Cash), comp (compound), Link (Chainlink), Pepe (Pepecoin), Sol (Solana), UNI (UNISWAP), USDC (USD COIN), WIF (dogwifhathathathathat ), XRP (Ripple), Avax (Avalanche), Ada (Cardano), Bonk (Bonk Coin), Stellar Lumens (XLM), Trump (Trump Coin), Xtz (Tazos), etc. (Ethereum Classic).
“We tend to be very conservative from a regulatory perspective and, because we are focused on institutions, we also make sure we have very clear processes, policies and procedures,” said Acuña-Rohter. The risk of adding the new tokens decreased significantly with the new administration, which is very focused on providing clarity instead of enforcing actions against cryptographic companies, he added.
The exchange, which is available only for institutions, was launched in the United States in June 2023 and was news with investments of the main Wall Street Fidelity, Schwab, Paradigm, Paradigm, Capital and Citadel Wallbus and Citadel, a former employer being a former employer of Nazarali.
A key difference between EDX markets and other encryption exchanges is that it does not have customer digital assets. On the other hand, users trade through financial intermediaries, as well as how transactions in traditional values exchanges such as the New York or Nasdaq Stock Exchanges occur. This structure appeals to the regulators, explained the CEO of Edx, Jamil Nazarali, since it guarantees a clear separation between the exchange functions and stockbroker.
However, Edx Markets kept his asset offers low during the last two years, hitting Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC).
When integrating a basket of new assets, the exchange expects to increase its customer base and be a unique window for customers, worldwide.
The company also plans to introduce an exchange of perpetual futures in the second quarter of this year, which will be based on Singapore but available for jurisdictions worldwide that allow the trade of perpetual futures. This does not include the US.
In the United States, where the company is located, Edx continues to focus on expanding its product offers and incorporating customers from the traditional financial world, said Acuña-Rohter, noting that the company is already working with several clients to solidify its plans and map its integrations in space.
“This is the time we have been waiting,” he said.
