EDX Markets, a crypto exchange supported by Wall Street giants such as Citadel Securities and Charles Schwab, announced on Tuesday that it has chosen Anchorage Digital to provide custody services for its upcoming clearinghouse business.
The clearinghouse will facilitate the settlement of trades executed on EDX.
Anchorage is the only crypto bank with a federal charter in the U.S., making it the “ideal partner,” according to EDX CEO Jamil Nazarali.
EDX is different from other crypto exchanges because it does not hold customers’ assets. Instead, customers have to use financial intermediaries to trade crypto assets on EDX.
This is why the partnership with Anchorage is vital for the exchange.