Today, EDX Markets (EDXM), a digital asset exchange, announced that it is partnering with Paxos as the custodian of its assets. Through this collaboration, EDXM’s clients will have access to institutional custody of traded assets. On the other hand, Paxos’s clientele will have direct access to this cutting-edge infrastructure. All EDXM customer assets will be held in a bankruptcy-remote trust by Paxos in completely segregated U.S. accounts. The latter is regulated by the New York Department of Financial Services.
The Benefits of the Paxos-EDXM Alliance for Investors
With EDXM as an additional source of institutional liquidity, the relationship also benefits Paxos’s clientele. Working with EDXM, Paxos is simplifying the process by which banks and other financial institutions can access the cryptocurrency markets in the safest and most regulated way possible. For institutional investors and financial organizations looking for the safest and most streamlined cryptocurrency trading platform, Paxos’ enterprise platform will be invaluable in meeting their custody and wallet infrastructure needs.
One of EDXM’s main selling points is the company’s dedication to security and compliance. Furthermore, the collaboration aims at providing investors with premier-level services for storing and safeguarding digital assets. When it comes to blockchain infrastructure platforms that are subject to regulations, Paxos is a frontrunner. More than $540 million has been invested in the company, making it one of the best-funded fintech startups. Its products form the backbone of an improved, faster, and more accessible monetary system.
Paxos is the most heavily regulated digital asset custodian in the world. It has obtained a conditional bank trust charter from the Office of the Comptroller of the Currency and planning to launch Paxos National Trust in the fourth quarter of 2022. Powered by Paxos and MEMX’s (Members Exchange) technology, EDXM gives investors access to digital asset trading on par with that of major financial institutions for the first time.