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
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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
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