EDX Markets is an institutional cryptocurrency exchange. Backed by several prominent financial firms—including Citadel Securities, Virtu Financial, Fidelity Digital Assets, Charles Schwab Corporation, Sequoia Capital, HRT Technology and Miami International Holdings[1][2]—EDX Markets offers trading, settlement and clearing services globally.[3]

Its U.S.-based spot exchange supports trading in over 90 instruments, from leading products like Bitcoin and Ethereum to memecoins like Dogecoin and Shiba Inu.[4][5][6] Its Singapore-based perpetual futures exchange lists over 60 coins in which clients can access synthetic markets.[7] The firm seeks to incorporate best practices from leading traditional finance firms into the digital asset landscape.[8][9]

The exchange began processing trades in June 2023. In December 2025, its average daily volumes reached roughly $200 million.[10]

History

EDX Markets was founded in 2022.[11] Initially built on technology infrastructure powered by MEMX,[11] the exchange began processing trades in June 2023, offering trading in Bitcoin, Ethereum, Litecoin, and Bitcoin Cash at launch.[12]

In 2023, EDX launched EDX Clearing, a central clearinghouse for trades.[13][14] The clearinghouse was designed to support improved price competition, reduced settlement risk, and greater operational efficiency.[13] EDX Markets selected Anchorage Digital to provide clearinghouse custody.[15]

In 2024, EDX Markets moved away from MEMX technology and migrated to a proprietary matching engine located at the Equinix NY4 data center.[8]

In January 2024, EDX Markets completed its series B round of funding, led by Pantera Capital and Sequoia Capital, for an undisclosed amount.[16] The company said it would use the funding to expand outside the United States.[16] In November 2024, EDX added trading support for two memecoins, Dogecoin and Shiba Inu.[6]

In December 2024, Tony Acuña-Rohter was named chief executive officer of EDX Markets. He had previously served as the firm's chief technology officer.[17]

In April 2025, EDX Markets announced support for USD Coin (USDC) for collateral deposits and the settlement of U.S. dollar obligations.[18]

In February 2026, EDX Markets launched FlowConnect, a crypto-as-a-service platform designed to help firms launch their own digital asset trading products on white-labeled EDX technology.[19] Offerings at launch included spot trading, perpetual futures trading, clearing and stablecoin on- and off-ramp workflows.

In April 2026, EDX Markets submitted an application with the Office of the Comptroller of the Currency to become a national trust bank.[20] The new status would enable EDX to deliver custody, asset management and principal trading services while keeping its client order matching services segregated.

See also

References

  1. ↑ "Citadel Securities-Backed Crypto Exchange EDX Drops Paxos for Anchorage". Bloomberg News. Retrieved 30 June 2023.(subscription required)
  2. ↑ Basar, Shanny (2024-01-25). "EDX Markets has Cleared More Than $3.1bn". Markets Media. Retrieved 2025-09-22.
  3. ↑ Ghosh, Suvashree (March 23, 2026). "Wall Street-Backed Crypto Exchange Takes Aim at Asia FX Market Using Won Stablecoin". Bloomberg. Retrieved April 13, 2026.{{cite web}}: CS1 maint: url-status (link)
  4. ↑ "VR - EDX Markets". EDX. Retrieved 2025-09-22.
  5. ↑ "XRP, SOL, Trump Coin Among Tokens Added at EDX Markets". CoinDesk. Retrieved 2025-09-22.
  6. 1 2 "EDX Markets goes meme and launches SHIB and DOGE". Finance Feeds. Retrieved 29 January 2025.
  7. ↑ Cocksedge, Natasha (2025-07-24). "Citadel Securities and Virtu-backed EDXM International launches digital assets-focused futures exchange". The TRADE. Retrieved 2026-04-13.
  8. 1 2 "Crypto exchange EDX takes its tech into its own hands - WatersTechnology.com". www.waterstechnology.com. 2025-04-22. Retrieved 2025-09-22.
  9. ↑ Quiroz-Gutierrez, Marco. "'Bringing some of the investor protections to it': How EDX Markets is embracing TradFi to become the safest bet in crypto". Fortune Crypto. Retrieved 2025-09-22.
  10. ↑ "Crypto for normies: EDX puts old twist on new asset class - Risk.net". www.risk.net. 2026-04-08. Retrieved 2026-04-13.
  11. 1 2 "Digital Asset Exchange EDX Markets Launches with Backing from Leading Broker-Dealers, Global Market Makers and Venture Capital Firms". www.businesswire.com. 2022-09-13. Retrieved 2024-02-23.
  12. ↑ "Crypto Exchange Backed by Citadel Securities, Fidelity Goes Live". Bloomberg News. Retrieved 30 June 2023.(subscription required)
  13. 1 2 Frankjkovic, Teuta (26 June 2023). "What is EDX? Here's Everything We Know About Wall Street-Backed Crypto Exchange". ccn.com. Retrieved 23 February 2024.
  14. ↑ "Wall Street Is Launching a Crypto Exchange. Why That's a Threat to Coinbase". Barron's. Retrieved 30 June 2023.(subscription required)
  15. ↑ "Fidelity-backed EDX selects Anchorage Digital for clearinghouse custody". The Block. Retrieved 2025-09-22.
  16. 1 2 "EDX Plans Asia Crypto Exchange With Funding From Sequoia and Pantera Capital". Bloomberg.com. 2024-01-23. Retrieved 2024-02-23.
  17. ↑ Doherty, Katherine (December 2, 2024). "Crypto Venue EDX Names Acuña-Rohter CEO as Nazarali Steps Aside". Bloomberg Law. Retrieved September 22, 2025.
  18. ↑ EDX (2025-04-22). "Stablecoin Efficiency in Action: USDC Now Live on EDX for Collateral and Settlement". EDX. Retrieved 2025-09-22.
  19. ↑ "EDX Markets launches FlowConnect™ to accelerate institutional crypto trading - Hedgeweek". 2026-02-02. Retrieved 2026-04-13.
  20. ↑ Smith, Paige; Doherty, Katherine (April 1, 2026). "Citadel Securities-Backed Crypto Exchange Seeks Bank Charter". Bloomberg. Retrieved April 13, 2026.{{cite web}}: CS1 maint: url-status (link)
source: https://en.wikipedia.org/wiki/EDX_Markets