EDX Markets Chooses Anchorage As Custody Provider For Institutional Crypto Settlement

EDX Markets Chooses Anchorage As Custody Provider For Institutional Crypto Settlement

Published Tuesday 22nd August 2023

EDX Markets, a leading cryptocurrency exchange, has announced its partnership with Anchorage Digital, a trusted provider of institutional custody solutions. The collaboration aims to provide custody services for EDX Markets' upcoming clearinghouse business. With the growing institutional interest in cryptocurrencies, the choice of Anchorage as a custody provider underscores the commitment of EDX Markets to offer secure and reliable services to its institutional clients.

Anchorage Digital has emerged as a leading player in the crypto custody space, offering advanced security solutions and institutional-grade services. The company's expertise and robust infrastructure make it an ideal choice for EDX Markets to ensure the safekeeping of digital assets held on behalf of its institutional clients. By partnering with Anchorage, EDX Markets aims to instill confidence in its clearinghouse business and attract institutional investors who prioritize security and compliance.

The selection of Anchorage as a custody provider reflects the commitment of EDX Markets to prioritize security and risk management. Anchorage utilizes cutting-edge technology, including secure multi-party computation, to safeguard digital assets from various threats, such as hacking and insider attacks. This advanced security infrastructure, combined with regulatory compliance, ensures that EDX Markets' institutional clients have peace of mind while transacting in the cryptocurrency market.

The partnership with Anchorage enables EDX Markets to offer its institutional clients a comprehensive suite of services. Alongside custody solutions, EDX Markets' clearinghouse business will provide trade settlement, clearing, and other post-trade services. By integrating custody services into its offering, EDX Markets aims to streamline the crypto settlement process for its institutional clients, reducing operational complexities and enhancing efficiency.

The collaboration between EDX Markets and Anchorage also highlights the increasing institutionalization of the cryptocurrency market. As more traditional financial institutions and asset managers express interest in cryptocurrencies, the demand for secure custody solutions has grown significantly. Anchorage's experience in serving institutional clients positions EDX Markets well to cater to this evolving market landscape and become a trusted partner for institutional investors seeking exposure to cryptocurrencies.

EDX Markets' choice of Anchorage as its custody provider for the clearinghouse business launching later this year demonstrates the exchange's commitment to offering institutional-grade services. By partnering with Anchorage, EDX Markets aims to address the growing demand for secure custody solutions in the cryptocurrency market. This collaboration not only enhances EDX Markets' offering but also contributes to the overall maturation and legitimacy of the digital asset industry, making it more accessible and appealing to institutional investors.

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