crypto custodian Anchorage will become a partner of the EDX Markets exchange


Launched with the support of Citadel Securities, Fidelity and Charles Schwab, bitcoin exchange EDX Markets is in talks to partner with crypto custodian Anchorage Digital, according to Bloomberg.

According to the agency’s sources, the platform abandoned the previous agreement with Paxos, concluded in October 2022.

On the exchange website, Anchorage is already listed as one of the partners or service providers.

Bloomberg: Anchorage crypto custodian to partner with EDX Markets
Data: EDX Markets.

“At launch, EDX focused on the non-custodial offering. We applaud what the company is building and look forward to supporting its clients with our managed custody as banks and brokers join the platform,” said a Paxos spokesperson.

The exchange unannounced began operations in July. According to EDX, its approach is based on the standard practices of traditional financial markets. The company does not store clients’ assets, but provides them with a trading platform for transactions. The platform supports trading of Bitcoin, Ethereum, Litecoin and Bitcoin Cash in pairs with the US dollar 24/7.

EDX does not directly serve retail investors. Only brokerage firms representing their interests can connect to the platform.

In 2021, Anchorage became the owner of the first federal crypto bank license in the United States.

In April 2022, the custodian faced accusations from the Office of the Comptroller of the Currency within the Ministry of Finance of “violating an operating agreement”. The regulator recognized the insufficient coverage of the provisions of the legislation in terms of control over procedures by the Anchorage compliance program KYC and monitoring suspicious activity. According to the order of the department, the cryptobank undertook to eliminate the identified shortcomings.

Recall that in March 2023, Anchorage announced the dismissal of 20% of the state as part of a business restructuring.

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