New Inst. Exchange backed by Charles Schwab, Fidelity, Citadel will support Litecoin at launch

From the remnants of FTX, Voyager, and BlockFi emerges a highly reliable new institutional exchange known as EDX Markets, scheduled to launch this year. Unlike its predecessors, which suffered from mismanagement, EDX Markets enjoys the backing of industry giants such as Charles Schwab, Citadel, Fidelity, and Sequoia. With such formidable support, EDX Markets is poised to establish itself as one of the few reputable exchanges in the United States.

EDX Markets will initially offer only four digital assets: Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. These selections are likely based on their classification as digital commodities by the Commodity Futures Trading Commission (CFTC). The exchange will only be available to Institutions and can apply for EDX membership. Individuals cannot join EDX.

The inclusion of Litecoin on EDX Markets signifies the importance of Litecoin as one of the blue chip digital assets. Despite having a smaller market capitalization, Litecoin continues to attract institutional interest. As a result, its presence on the exchange could potentially propel Litecoin to higher levels in the future.

Sources:

1. https://www.businesswire.com/news/home/20230620110605/en/Digital-Asset-Platform-EDX-Markets-Begins-Trading-and-Completes-New-Funding-Round

2. https://edxmarkets.com/trading-resources/

3. https://www.linkedin.com/company/edx-markets/

4. https://www.wsj.com/articles/