EDX Markets is a recently established Bitcoin and cryptocurrency exchange with the support of Citadel Securities, Fidelity Investments, and Charles Schwab. Its objective is to appeal to brokers and investors seeking exposure to Bitcoin and digital assets.

Operating in a noncustodial manner, the exchange functions as a marketplace facilitating trades instead of directly handling customers' Bitcoin and digital assets. There is currently no launch date.

The exchange's announcement states that it aims to attract "industry leaders" by integrating best practices from traditional finance and providing distinctive benefits such as liquidity, competitive quotes, and a noncustodial model that aims to reduce conflicts of interest.

Additionally, EDX has outlined its future plans to introduce EDX Clearing, a clearinghouse designed to settle trades conducted on the EDX Markets platform. 

This trading platform will facilitate trades with a central counterparty, delivering notable benefits to participants, including enhanced price competition, reduced settlement risks, and improved operational efficiencies. 

In pursuit of its growth strategy, EDX has successfully concluded a funding round that has attracted strategic investors like Miami International Holdings, DV Crypto, Global Trading Strategies, GSR Markets, and Hudson River Trading. 

These investors have joined the existing coalition of founding investors, which includes Charles Schwab, Citadel Securities, Fidelity Digital AssetsSM, Paradigm, Sequoia Capital, and Virtu Financial. 

The company intends to utilize the additional funding to advance the development of EDX's trading platform and strengthen its position within the market.

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