Jan 23, 2024
EDX Markets (EDX), a premier digital asset marketplace designed for crypto-native firms and global financial institutions, today announced the successful launch of its digital asset clearinghouse, EDX Clearing, alongside the completion of its Series B funding round led by Pantera Capital and Sequoia Capital.
Key Highlights:
- Series B Funding Success: EDX secured investments from Pantera Capital (new investor) and Sequoia Capital (founding investor), fueling global expansion and technological advancements.
- EDX Clearing Innovation: The new clearinghouse simplifies settlement processes, reduces counterparty risk, and enhances capital efficiency for market participants.
- Trading Milestones: Since its October launch, EDX Clearing has settled over $3.1 billion** in nominal trading volume, with member trading volume exceeding **$1.4 billion in December 2023.
EDX Clearing: Revolutionizing Crypto Settlement
EDX Clearing (EDXC) introduces a central counterparty (CCP) model, eliminating the need for bilateral agreements among members. Key benefits include:
- Operational Efficiency: Trades are settled via a single netting process, reducing upfront capital requirements.
- Risk Mitigation: EDXC acts as the central counterparty, minimizing credit risk for members.
- Competitive Edge: Non-custodial market access with lower capital barriers.
👉 Discover how EDX Clearing enhances institutional crypto trading
Series B Funding and Strategic Growth
The funding round included participation from:
- Founding Consortium Members: Citadel Securities, Fidelity Digital Assets℠, Virtu Financial, and Sequoia Capital.
- Other Investors: Charles Schwab, Paradigm, Miami International Holdings, and more.
Jamil Nazarali, CEO of EDX, stated:
"EDX Clearing is a game-changer, combining settlement simplicity with reduced capital demands. With $3.1B cleared already, we’re poised to leverage the institutional wave driven by Bitcoin ETF approvals. Pantera’s investment validates our model and mission to build the most transparent digital asset market."
Paul Veradittakit of Pantera Capital added:
"Institutions prioritize counterparty risk management. EDX’s capital-efficient products and elite backing position it to dominate the next era of institutional crypto trading."
About EDX Markets
EDX Markets merges traditional finance best practices with crypto-native technology, offering:
- Security: Institutional-grade infrastructure.
- Efficiency: Faster, safer digital asset trading.
- Backing: Supported by Citadel, Fidelity, Virtu, Sequoia, and Pantera.
👉 Explore EDX’s vision for crypto markets
FAQs
Q: How does EDX Clearing reduce risk for traders?
A: By acting as a central counterparty, EDXC nets all trades, lowering credit exposure and capital needs.
Q: What’s the significance of the Series B funding?
A: It accelerates EDX’s tech development and global expansion, backed by top-tier investors.
Q: Can retail investors access EDX Markets?
A: EDX primarily serves institutional and crypto-native firms, ensuring high liquidity and compliance.
Q: How does EDX compare to traditional crypto exchanges?
A: EDX combines non-custodial trading with capital efficiency, unlike custodial platforms.
For more details, visit EDXMarkets.com.
### Keywords:
EDX Markets, cryptocurrency clearinghouse, Pantera Capital, Sequoia Capital, institutional crypto trading, EDX Clearing, digital asset settlement, Series B funding
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