How Charles Schwab, Citadel and Fidelity want to take over cryptocurrencies

The Merge between finance and crypto? – Traditional finance and institutions fit together more and more with the new class of assets that constitute Bitcoin (BTC) and cryptocurrencies. Today these are 3 giants of traditional finance who support the launch of the new crypto exchange platform called EDX Markets.

EDX Markets debuts with backing from funds managing trillions of dollars

Charles Schwab : $8.1 trillion in assets under management. Fidelity Investments$4.5 trillion in assets under management. Citadel Securities : $253 billion in assets under management. These are the 3 powerful sponsors of a very young crypto-exchange.

According to a press release published on September 13, 2022, the new cryptocurrency exchange platform EDX Markets (EDXM) is therefore launched under the best auspices. And, in addition to the 3 heavyweights already mentioned above, two other large traditional funds will support this consortium behind EDXM, namely Paradigm and Sequoia Capital.

The crypto exchange will be led by Jamil Nazaraliformer Global Head of Business Development at Citadel:

“It is a privilege to lead EDXM as we build this exciting new business ecosystem, and I am grateful for the participation, support and guidance of our consortium members. We look forward to welcoming new participants to our exchange, which will support continued trading in this important asset class. [des cryptomonnaies]. »

Jamil NazaraliCEO of EDX Market

Institutional money is therefore no longer content to invest massively into what already exists in the cryptosphere. This consortium of heavyweights somehow creates its own platform exchange of digital assets, from scratch. EDX Markets may weigh in on the future of exchanges. Current big names like Binance and FTX have been warned.

When the richest men in the world focus on an investment, it is not useless to be interested in it too! To not miss the opportunity of a lifetime, register without delay on the FTX reference crypto exchange platform. In addition, you benefit from a lifetime reduction on your trading fees (commercial link, see conditions on official website).

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