EDX Markets, backed by Fidelity Digital Assets, Charles Schwab, and Citadel Securities, is expanding its cryptocurrency offerings by adding 17 new tokens to its platform.

This expansion is aimed at attracting institutional investors, transforming EDX’s previously limited selection into a robust trading platform to meet growing demand in the cryptocurrency market.

What to Know:

• EDX Markets is introducing 17 new cryptocurrencies, enhancing trading options for users.
• The exchange uses a non-custodial model that employs financial intermediaries, appealing to regulators and resembling traditional stock desks.
• A perpetual futures exchange is planned for launch in Singapore in Q2 2025, widening EDX’s reach beyond the U.S.

“From the outset, we were designed and built for institutions for exactly what’s happening right now,” said EDX Markets CEO Tony Acuña-Rohter in a discussion with reporters.

Acuña-Rohter began his role as CEO in December, succeeding founding CEO Jamil Nazarali, who became the executive chair of the EDX Board. “We were quite fortunate because FTX happened, crypto winter followed, which gave us two years to build out our technology. Now we have this company that’s ready to absorb all the new entrants from traditional finance,” he stated.

The newly added cryptocurrencies include AAVE, Bitcoin Cash, Compound, Chainlink, Pepecoin, Solana, Uniswap, USD Coin, Dogwifhat, Ripple, Avalanche, Cardano, Bonk Coin, Stellar Lumens, Trump Coin, Tezos, and Ethereum Classic.

“We tend to be conservative from a regulatory perspective, and we ensure to have clear processes in place due to our focus on institutions,” Acuña-Rohter emphasized. The approval of the new cryptocurrencies comes after a shift in the regulatory landscape, which is now more focused on clarity rather than enforcement.

Launched in June 2023, EDX Markets is available only to institutional clients and has drawn significant investment from notable Wall Street firms. Unlike many other exchanges, EDX does not hold customers’ digital assets. Instead, it facilitates trading through intermediaries, paralleling traditional stock market transactions.

This model not only appeals to regulators but also minimizes the risk involved in trading activities. EDX’s current offerings have historically been limited to Bitcoin, Ethereum, and Litecoin, but the introduction of these new assets is expected to attract a broader clientele, making EDX a comprehensive platform for cryptocurrency trading.

As the exchange gears up for the new offerings, it is also focusing on expanding its services and establishing connections with clients in the traditional financial sector. “This is the moment we’ve been waiting for,” says Acuña-Rohter.