EDX crypto exchange launches with backing from finance giants.
EDX Markets, a new crypto exchange backed by Wall Street heavyweights including Fidelity, Schwab, and Citadel Securities, has started operation. It is a noncustodial exchange, meaning it doesn't directly deal with customers' cryptocurrencies. Instead, it operates an exchange where firms agree to execute trades of crypto and dollars, while using the platform to agree on prices. EDX will launch a clearing house to settle trades later this year. The move comes after the SEC recently sued both Binance and Coinbase.