EDX Markets Partners with Paxos for Digital Asset Custody Services at New Exchange | news

NEW YORK–(BUSINESS WIRE)–Aug. October 2022–

EDX Markets (EDXM), a unique digital asset exchange backed by leading financial institutions, and Paxos, the leading regulated blockchain infrastructure platform, have announced a partnership that will enable institutional custody of traded assets for EDXM clients, and offer Paxos customers direct access to this new state-of-the-art ecosystem. With the support of Paxos, EDXM will offer the most trusted, efficient and liquid cryptocurrency exchange on the market.

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Paxos’ best-in-class enterprise platform will facilitate digital asset custody and wallet infrastructure for sophisticated financial institutions and investors seeking the most efficient and compliant trading venue in the cryptocurrency markets. Leveraging Paxos’ unparalleled blockchain technology and regulatory expertise, trades on EDXM are cleared and settled with greater speed and at lower cost. The partnership also brings value to Paxos clients as EDXM will be a new source of institutional liquidity.

As a qualified trustee regulated by the New York Department of Financial Services, Paxos holds all client assets in a bankruptcy remote trust in fully segregated US accounts. Paxos is SOC II Type 2 certified and adheres to the highest standards of custody security, risk management and compliance. Paxos has also secured a conditional bank trust charter from the Office of the Comptroller of the Currency and expects to open the Paxos National Trust in Q4 2022, making it the most fully regulated custodian of digital assets in the world.

Walter Hessert, Head of Strategy at Paxos, stated: “Paxos is redefining financial markets by developing regulated solutions that enable the movement of all assets at all times in a trusted manner. Together with EDXM we are creating an easy way for banks and other financial institutions to access crypto markets in the most regulated way.”

Jamil Nazarali, CEO of EDXM, stated, “With compliance and security as key differentiators of EDXM’s offering, we are excited to partner with Paxos to offer our investors the gold standard in digital asset custody. With Paxos’ best-in-class solutions combined with MEMX’s technology powering the exchange, EDXM now has all the tools to make institutional-level digital asset trading available to investors for the first time.”

About EDX Markets

EDX Markets (EDXM) is a new cryptocurrency trading platform that combines proven technology with the best of traditional financial markets. A collaboration between leading names in finance – including supporting broker-dealers, global market makers and venture capital firms – EDXM will be positioned to bring greater liquidity, transparency and security to the digital asset market. Visit EDXMarkets.com for more information.

About Paxos

Paxos is the leading regulated blockchain infrastructure platform. Its products form the basis for a new, open financial system that can work faster and more efficiently. Today, trillions of dollars are trapped in inefficient, outdated financial assets that are inaccessible to millions of people. Paxos is reimagining the financial system so assets can move instantly, anytime, anywhere around the world in a trusted manner.

Paxos leverages technology for tokenization, custody, trading and settlement of assets. It builds enterprise blockchain solutions for institutions such as PayPal, Interactive Brokers, Mastercard, MercadoLibre, Nubank, Bank of America, Credit Suisse and Societe Generale. Paxos is a world-class fintech company with over $540 million raised from leading investors including Oak HC/FT, Declaration Partners, Founders Fund, Mithril Capital and PayPal Ventures. With offices in New York, London and Singapore, Paxos takes a global approach to modernizing the financial system. To learn more about Paxos and its regulated infrastructure and products, visit www.paxos.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221004006072/en/

CONTACT: For EDX markets:

[email protected] Paxos:

Rebecca McClain

[email protected]

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: TECHNOLOGY FINANCE SECURITY BANKING PROFESSIONAL SERVICES BUSINESS DIGITAL CASH MANAGEMENT/DIGITAL ASSETS BLOCKCHAIN ​​CRYPTOCURRENCY ASSET MANAGEMENT

SOURCE: EDX Markets

Copyright Business Wire 2022.

PUBLICATION: 05/10/2022 07:30 AM / DISC: 05/10/2022 07:32 AM

http://www.businesswire.com/news/home/20221004006072/en

Copyright Business Wire 2022.

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