Financial Heavyweights Enter Cryptocurrency via TradFi's EDX Exchange

The backing of Fidelity, Schwab, and Citadel is a significant endorsement of the crypto market and it’s potential.

Fidelity, Schwab, and Citadel are among the big-name backers of a new crypto exchange called EDX that is set to launch soon. This move signals a deeper dive into the world of digital assets by TradFi. EDX is set to offer a wide range of trading options, including the major cryptocurrencies like Bitcoin and Ethereum, as well as alternative coins, or altcoins. The exchange will also offer futures, options, and other derivatives trading. The backing of Fidelity, Schwab, and Citadel is a significant endorsement of the crypto market and it’s potential. These major financial institutions are recognizing cryptocurrencies as a legitimate asset class that is here to stay. EDX's inclusion of derivatives trading is also a sign that the crypto market is maturing and becoming more sophisticated.

TradFi's move into the crypto market is strategic and likely driven by the growing interest in digital assets by both institutional and retail investors. By offering institutional-grade trading infrastructure and backing from major players, EDX has the potential to become a significant player in the crypto market. Time will tell if EDX can deliver on its promise and help take the crypto market to the next level.