EDX Markets Launches Singapore-Based EDXM Global
May 07 2024 - 11:00PM
Business Wire
- EDXM Global platform to provide members with the most
competitive and efficient settlement process.
- GSR and Virtu Financial are among the first adopters of EDXM
Global.
EDXM Global (EDXMG), a fast-growing digital asset company for
institutional customers, announced today the launch of its
settlement platform. EDXM Global sets a new standard in the digital
asset landscape, streamlining OTC transaction settlements with
remarkable speed and reliability. Marking a significant milestone,
industry giants GSR and Virtu Financial were the first firms to use
the new platform for trade settlement.
The launch of EDXM Global comes after its parent, EDX Markets
Holdings LLC (EDX), closed its Series B funding round late last
year. Pantera Capital co-led the round with Sequoia Capital, a
founding consortium member. Other founding members participating in
the Series B include Citadel Securities, Fidelity Digital AssetsSM,
and Virtu Financial.
Jamil Nazarali, CEO of EDX, commented, "The launch of EDXM
Global is the first step in the international expansion of our
digital asset business. We are thrilled to introduce our settlement
service, built on cutting-edge technology, rigorous compliance, and
an unwavering commitment to customer service. By mitigating
counterparty risks, EDXM Global empowers our Members to navigate
the complexities of trade settlement while reducing counterparty
risks."
Rich Rosenblum, Co-founder and President of GSR, said, "We are
pleased to support the launch of EDXM Global. Being able to
mitigate settlement risks for OTC transactions represents a
significant advantage for us and our clients, and we are proud to
align with a partner that mirrors our dedication to excellence and
innovation.”
Douglas Cifu, CEO of Virtu Financial, said, “Virtu is excited to
support another strategic innovation by the talented team at EDX.
EDX continues to lead the way with solutions to efficiently
mitigate counterparty risk and streamline settlement processes,
further reducing risk and operational barriers to enable greater
adoption of digital assets around the globe.”
About EDXM Global
EDXM Global Markets is a fast-growing digital asset company for
institutional customers which leverages best practices from
traditional financial markets on a purpose-built crypto platform.
EDXM Global operates a platform designed to meet the needs of both
crypto-native firms as well as the world's largest financial
institutions.
Based in Singapore, EDXM Global is an affiliate of EDX Markets.
EDX Markets was started in 2022 by a consortium of major financial
firms, including Citadel Securities, Fidelity Digital Assets, Virtu
Financial and Charles Schwab, and prominent crypto Venture Capital
firms Sequoia, Pantera, and Paradigm.
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