Collective of Wall Street Giants Roll Out a Cryptocurrency Exchange Soon

  A number of Wall Street heavyweights, including Fidelity, Charles Schwab, and Citadel, will soon be launching a cryptocurrency exchange — EDX Markets. EDXM aims to be the “first-of-its-kind” among centralized crypto exchanges that processes trades through dependable intermediaries. It seeks to offer the best prices by combining liquidity from different market makers.  The global financial service company Charles Schwab, the market maker firms Citadel Securities and Virtu Financial, and the venture capital firms Paradigm and Sequoia Capital are among the companies that are backing EDXM. This list of companies…

Busan signs MoU with Huobi, gets more help for local crypto exchange

South Korea’s ‘blockchain’ city of Busan continues to establish agreements with cryptocurrency industry heavyweights as Huobi Global enters the development ecosystem. Huobi Global and its Korean branch became the latest exchange to sign a memorandum of understanding with the Busan Metropolitan City government to participate in the growth of its blockchain industry. According to an official announcement from Huobi, the partnership will see the company provide research and development, technology and financial support for the Busan Digital Currency Exchange. Huobi is also set to assist in identifying and hiring blockchain…

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Financial Heavyweights Citadel, Charles Schwab, Fidelity Confirm Cryptocurrency Exchange Launch – Bitcoin News

A number of financial giants including Fidelity Investments, Citadel Securities, and Charles Schwab Corp. announced on Tuesday that the consortium of companies plans to launch a cryptocurrency exchange called EDX Markets. Reports note that firms like Paradigm, Sequoia Capital, and Virtu Financial are also backing the new crypto trading platform. The story was first reported during the first week of June, but the companies confirmed creating the new crypto exchange this week and appointed a CEO. EDX Markets Plans to ‘Remove Significant Conflicts of Interest That Affect Existing Cryptocurrency Exchanges’…

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Wall Street mainstays setting up digital assets exchange with on-chain settlement

Major financial firms have teamed up to create EDX Markets (EDXM), a new exchange that will trade digital assets through trusted intermediaries. The exchange will provide services to institutional and retail investors.  The new exchange will be backed by Charles Schwab, Citadel Securities, Fidelity Digital Assets, Paradigm, Sequoia Capital and Virtu Financial, according to an announcement released on Tuesday. Jamil Nazarali has moved from Citadel Securities, where he was global head of business development, to the exchange as its CEO. The EDXM board of directors, made up of representatives of…

Wall Street mainstays setting up digital assets exchange with on-chain settlement

Major financial firms have teamed up to create EDX Markets (EDXM), a new exchange that will trade digital assets through trusted intermediaries. The exchange will provide services to institutional and retail investors.  The new exchange will be backed by Charles Schwab, Citadel Securities, Fidelity Digital Assets, Paradigm, Sequoia Capital and Virtu Financial, according to an announcement released on Tuesday. Jamil Nazarali has moved from Citadel Securities, where he was global head of business development, to the exchange as its CEO. The EDXM board of directors, made up of representatives of…

Binance Sued in Italy Over Exchange Outages, Hearing This Week

Binance was also offering futures trading to Italian customers without regulatory approval and without complying with local laws, Dagnino said, addressing the other allegation against Binance. “It is absolutely clear that when you are selling a future, especially with that type of leverage, it doesn’t matter what the underlying asset is, it’s always a derivative and always a financial product,” Dagnino said. Source

New Crypto Exchange From Schwab, Fidelity, Citadel Securities, Virtu Aims to Seriously Cut Costs for Investors

It’s seeking to nudge crypto toward the low costs seen in U.S. stocks, EDX CEO Jamil Nazarali said in an interview Tuesday. He gave a theoretical example of an investor seeking to buy $5,000 worth of an S&P 500 ETF, whose cost for that trade – as measured by the cut, known as the spread, an intermediary would take to complete the transaction – would likely be a few pennies. A similar-sized BTC trade might currently cost $25, Nazarali said. Source