EDX Markets, a start-up digital asset exchange backed by leading financial institutions including Fidelity and Charles Schwab, has formed a partnership with Paxos, the regulated blockchain infrastructure platform, that will enable institutional custody of traded assets for EDXM clients, and provide Paxos customers with direct access to this new ecosystem.
Paxos’ enterprise platform will facilitate the custody and wallet infrastructure of digital assets for financial institutions and investors seeking an efficient and compliant trading venue in cryptocurrency markets. Trades on EDXM will be netted and settled with greater speed and at low costs. The partnership also brings value to Paxos clients as EDXM will be a new source of institutional liquidity.
Paxos is a qualified custodian regulated by the New York Department of Financial Services. Paxos has also secured a conditional bank trust charter from the Office of the Comptroller of the Currency and anticipates opening Paxos National Trust in the fourth quarter of 2022.