EDX Markets Ends Agreement With Paxos As Custodial Partner; In Talks With Anchorage Digital

EDX Markets Ends Agreement With Paxos As Custodial Partner; In Talks With Anchorage Digital

Published Wednesday 28th June 2023

EDX Markets, a cryptocurrency exchange that is backed by major financial firms, has decided to end its agreement with Paxos as its custodial partner. The exchange is now in talks with Anchorage Digital for a potential new collaboration. The decision to switch custodial partners is primarily driven by the desire to avoid conflicts of interest and regulatory issues. While the partnership has not been officially announced yet, it is expected to bring about several advantages for EDX Markets.

The decision to end the agreement with Paxos comes as EDX Markets aims to establish a custody arrangement that is in line with its commitment to transparency and compliance. By partnering with Anchorage Digital, a leading digital asset custody provider, EDX Markets will ensure a secure and regulated environment for its users. Anchorage Digital offers advanced security measures such as biometric access control and multi-signature protocols, which will enhance the safety of customer assets on the exchange.

The potential partnership between EDX Markets and Anchorage Digital is also expected to facilitate smoother operations and improve the overall user experience. Anchorage Digital's advanced technology and expertise in digital asset custody will enable EDX Markets to offer enhanced services to its customers. This includes faster transaction settlements, improved liquidity, and more efficient management of digital assets. Additionally, the collaboration will likely result in the integration of new features and functionalities that will further enhance the trading experience on the platform.

Switching custodial partners is a strategic move for EDX Markets as it aims to position itself as a leading cryptocurrency exchange that prioritizes security and compliance. By partnering with Anchorage Digital, a trusted name in the digital asset custody space, EDX Markets will gain credibility and attract more institutional investors and high-net-worth individuals. This, in turn, will contribute to the overall growth and development of the exchange.

While the potential partnership between EDX Markets and Anchorage Digital has not been officially announced, it is expected to be a significant step forward for both parties. EDX Markets will benefit from the advanced security and technological capabilities of Anchorage Digital, while Anchorage Digital will gain exposure to a wider user base through its collaboration with EDX Markets. As the cryptocurrency industry continues to evolve and mature, strategic collaborations like this will play a crucial role in shaping the future of digital asset trading.

Crypto News & Headlines

PEPE Coin Soars Over 80% In A Week, Hits New All-Time High

Pepe coin hit a new all-time high of $0.00001559 following an 80% surge in the past week, driven by increasing interest and consistent trading volume.

Trending on 27th May 2024 09:26 AM

Normie Meme Coin Crashes 99% After Major Exploit & Hacker Attack

Normie, a meme token on the BASE blockchain, experienced a severe exploit, causing its value to plummet by over 99% from $40 million to less than $200

Trending on 27th May 2024 09:01 AM

Ethereum Price Boosted By ETF Hopes, Nears $4k

Ethereum's price surged above $3,850 due to bullish investors anticipating the launch of spot ETH ETFs, driving a 5% increase in the last 24 hours, wi

Trending on 27th May 2024 08:25 AM

Michael Saylor: Ethereum ETF Approval Boosts Bitcoin

Michael Saylor, MicroStrategy's founder, views the U.S. SEC's approval of spot Ethereum ETFs as beneficial for Bitcoin, predicting it will drive insti

Trending on 27th May 2024 01:01 AM

Uniswap (UNI) Price Surges Over 15% Due To New Proposals And Market Activity

Despite market consolidation, Uniswap's token UNI surged over 17%, breaking $10, driven by Ethereum ecosystem developments and ongoing legal battles w

Trending on 26th May 2024 12:02 AM