Major financial firms have teamed up to create EDX Markets (EDXM), a new exchange that will trade digital assets through trusted intermediaries. The exchange will provide services to institutional and retail investors.
The new exchange will be backed by Charles Schwab (NYSE:SCHW), Citadel Securities, Fidelity Digital Assets, Paradigm, Sequoia Capital and Virtu Financial (NASDAQ:VIRT), according to an announcement released on Tuesday. Jamil Nazarali has moved from Citadel Securities, where he was global head of business development, to the exchange as its CEO.