EDX Markets (EDXM), a digital asset exchange backed by leading financial institutions, and Paxos, the regulated blockchain infrastructure platform, have formed a partnership that will enable institutional custody of traded assets for EDXM clients, and provide Paxos customers with direct access to this new state-of-the-art ecosystem.
With Paxos’ support, EDXM will offer the most trusted, efficient and liquid cryptocurrency exchange on the market.
Paxos’ enterprise platform will facilitate the custody and wallet infrastructure of digital assets for sophisticated financial institutions and investors seeking the most efficient and compliant trading venue in cryptocurrency markets. Leveraging Paxos’ blockchain technology and regulatory expertise, trades on EDXM will be netted and settled with greater speed at low costs. The partnership also brings value to Paxos customers as EDXM will be a new source of institutional liquidity.
As a qualified custodian regulated by the New York Department of Financial Services, Paxos holds all customer assets in a bankruptcy-remote trust, in fully-segregated US accounts. Paxos is SOC II Type 2 certified and upholds 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 anticipates opening Paxos National Trust in the fourth quarter of 2022, making it the most comprehensively regulated digital asset custodian in the world.
