A new crypto exchange, backed by the world’s largest financial institutions, uses the digital wealth management services of the crypto platform Anchorage Digital.
In a statement, EDX Markets (EDX) says say Anchorage Digital will be the custodian of its clearinghouse arm, EDX Clearing, which will launch later this year.
EDX CEO Jamil Nazarali says the decision to partner with the San Francisco-based digital custodian takes into account the fact that Anchorage Digital’s crypto-native bank has a banking charter from the Office of the Comptroller of the Currency (OCC). ), which regulates national banks in the US.
“Anchorage Digital has a robust security, governance, risk and compliance framework that will provide a best-in-class solution to meet the needs of our institutional client base. As the only federally chartered crypto bank in the US, Anchorage Digital Bank is the ideal partner to support EDX in building a robust and compliant clearing house business.”
EDX launched trading in June with the backing of a group of financial titans including Citadel Securities, Fidelity Digital Assets, Virtu Financial and Charles Schwab, Sequoia and Paradigm.
EDX Clearing will settle transactions corresponding to its exchange, which currently supports four cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). The clearing house will use Anchorage Digital Bank for custody of traded assets.
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Generated image: Midjourney