Institutional-Only Crypto Exchange EDX Markets Debuts With Support From Major Financial Firms
Portfolio Pulse from Murtuza Merchant
EDX Markets, an institutional-only crypto exchange, has launched with support from major financial firms like Citadel Securities, Fidelity Digital Assets, and Charles Schwab Corp (NYSE:SCHW). The platform offers a non-custodial model and has started trading in Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
June 20, 2023 | 8:51 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
EDX Markets, a new institutional-only crypto exchange, differentiates itself from established platforms like Coinbase Global Inc. with its non-custodial model.
EDX Markets' non-custodial model could attract institutional investors who prefer this approach, potentially taking away some market share from Coinbase. This might have a negative impact on Coinbase's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Charles Schwab Corp backs the launch of EDX Markets, an institutional-only crypto exchange, which could potentially transform the cryptocurrency sector.
Charles Schwab Corp's backing of EDX Markets indicates its interest in the growing cryptocurrency sector. As a major financial firm, its support could attract more institutional investors to the platform, potentially boosting its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80