EDX: Wall Street’s Crypto Exchange is Here to Reshape Trading

• EDX is a Wall Street-backed crypto exchange launched on June 20, offering four crypto assets.
• It has a unique non-custodial model that differentiates it from other exchanges and likely appeases regulators.
• It is exclusively for institutional investors, so individual retail investors cannot trade with EDX.

What is EDX?

EDX is a crypto exchange backed by Wall Street financial giants such as Citadel Securities, Fidelity Digital Assets, and Charles Schwab. It officially launched on Tuesday, June 20, and aims to reshape the crypto asset trading landscape by offering a unique non-custodial model that differentiates it from other crypto exchanges.

What Cryptocurrencies Does EXD Offer?

At launch, the exchange offers just four crypto assets: Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). As EDX evolves, it may add more cryptos to its offering depending on the changing regulatory landscape in the United States .

Can I Trade Crypto with EDX?

EDX is designed exclusively for institutional investors only; individual retail investors cannot trade with EDX due to its business strategy and potential regulatory risks. Currently, it is unclear whether EDX has any plans to offer services to retail investors eventually or not.

How Is EDX Different From Other Crypto Exchanges?

Other than its exclusive focus on institutional investors, what sets EDX apart from other crypto exchanges is its ‘non-custodial’ model. This means that the exchange does not hold customer crypto but instead relies on banks to offer custodial services which makes it potentially more in line with SEC’s regulation than other exchanges.

How Does The EDX’s Non-Custodial Model Work?

EDX operates by utilizing banks to provide custodian services for customers‘ funds rather than holding them themselves like most other exchanges do. This setup allows customers to be able to withdraw their funds at any time their bank allows them while also providing more protection from potential hacks or exploits since all funds are stored offsite with a third party provider.