EDX Markets Launches for Institutional Crypto Trading
It was announced today that EDX Markets has launched its safe and compliant digitial asset marketplace. In other words, a new crypto exchange that's exclusively for vetted and approved firms. It's not for us individual crypto traders; we will have to stick to Binance, Coinbase, Pancake Swap, Uniswap, KuCoin, or the like. Have a look at the prerequisites, just needed to get the ball rolling on the approval process:
The laundry list of forms and rules must mean there are stringent requirements on joining the exchange. Let's just say it ain't exactly a decentralized one!!
Anyway, you can parse through the documents yourself on the EDX website and draw your own conclusions. It's pretty clear that extreme measure are being taken here to make for a "safe and secure" exchange. I thought that's what Binance and Coinbase were for individual traders? Anyway, I will be very curious to see if EDX comes under fire from SEC Chair Gary Gensler who has been on a bit of a lawsuit rampage recently, as we are well aware of! Perhaps not, as there's a litany of documents to submit before becoming "approved" for the exchange? The rules aren't exactly clear at this point!
More on EDX: they have a multitude of institutional investors including Charles Schwab, Citadel, Fidelity, Sequoia Capital, and many others.
Currently, there are four cryptocurrencies available for trade on EDX Markets:
Bitcoin
Ethereum
Litecoin
Bitcoin Cash
I was honestly pretty shocked to see BCH on that list. After all, what's the daily trading volume on that nowadays? I guess it's garnering interest outside of BCH Game, read.cash, and Bitcoin Cash Giveaway! But seriously, Bitcoin Cash really seemed to have been left for dead there for a minute.
My final point on this new EDX exchange is that in their press release today, the cryptocurrencies mentioned are not once referred to as "tokens" or "crypto" but "products traded on EDX." Paying very close attention to language used! That's all for now, good evening.
