Investing.com – The cryptocurrency market continues to expand, and the fall of the past few months hasn’t been enough to stop it. As the number of people using cryptocurrencies as a means of payment or investment grows, so does the interest of institutional investors.
This is why traditional financial firms also have an interest in not being left behind by the emerging fintech sector and getting their foot in the door.
Fidelity Digital Assets, Charles Schwab (NYSE:) and Citadel Securities have decided to launch a crypto exchange that is second to none. Under the name of EDX Markets (EDXM), the alliance not only promises low spreads, but also high liquidity, so it will ultimately be the best crypto offering on the market.
The founders expect other financial institutions to join the initiative in the future, if they wish to offer their customers services related to digital currencies. The press release states as follows:
“Cryptocurrencies are a global asset class that is worth $1 trillion, over 300 million users, and a need to catch up with millions more. Meeting this demand requires a platform that meets the needs of both private and institutional investors and meets high compliance and security standards”.
By Marco Oehrl