On Tuesday EDXM Global announced it launched its settlement platform in Singapore. It’s a subsidiary of EDX Markets, the institutionally focused cryptocurrency exchange founded by Citadel Securities, Fidelity Digital Assets, Virtu Financial and Charles Schwab, alongside venture capital firms. Initially EDXM Global provides a settlement process for OTC transactions. It also plans to provide custody services, but we believe that requires a Singapore license.
EDX investors GSR and Virtu Financial were the first firms to use the settlement solution. EDXM Global supports the same set of assets as stateside, BTC, ETH and LTC.
“The launch of EDXM Global is the first step in the international expansion of our digital asset business,” said Jamil Nazarali, CEO of EDX. “We are thrilled to introduce our settlement service, built on cutting-edge technology, rigorous compliance, and an unwavering commitment to customer service. By mitigating counterparty risks, EDXM Global empowers our Members to navigate the complexities of trade settlement while reducing counterparty risks.”
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