EDX Markets, a digital asset technology firm that combines an institution-only trading venue with a central clearinghouse, announced a partnership with BitGo Trust Company, Inc., the infrastructure provider of digital asset solutions “trusted” by institutions since 2013.
The partnership will integrate Go Network, BitGo’s settlement rails which enable “secure, instant settlement of digital assets and fiat with counterparties directly from BitGo Trust qualified custody.”
In addition, BitGo Prime has joined EDX Markets as “a member, adding EDX’s deep liquidity to BitGo’s pool of liquidity available to clients.”
Clients can now trade and settle directly from “qualified custody, minimizing exchange exposure without compromising on price.”
As traditional finance (TradFi) institutions explore their entry into the digital asset market, this partnership “provides participants with the strong infrastructure and regulatory assurances necessary to trade with confidence.”
By applying the same standards found in TradFi, EDX and BitGo are creating a bridge to digital assets, “enabling more institutional investors to integrate cryptocurrency into their trading strategies.”
Tony Acuña-Rohter, CEO, EDX Markets said:
“By integrating BitGo’s qualified custody infrastructure into our clearing and settlement framework, we are addressing the need for robust mitigation structures, which will further advance our mission of creating a secure and efficient trading environment that attracts more institutional participants.”
As a service provider to EDX Clearing, EDX’s central clearinghouse solution, BitGo Trust’s custodial services enhance security by “reducing counterparty risk and improving capital efficiency through netted settlement within the confines of qualified custody.”
As a “regulated” qualified custodian, BitGo Trust ensures assets “are safeguarded using technology, controls and insurance coverage of up to $250M.”
Mike Belshe, Co-Founder and CEO of BitGo said:
“We are thrilled to partner with EDX Markets as a key custody and settlement services provider to enable further institutional adoption. As the digital asset industry continues to mature, partnerships like ours bridge the gap between TradFi and crypto, driving increased participation and long-term growth in the space.”
EDX is a digital asset technology firm that combines “an institution-only trading venue with a central clearinghouse.”
EDX Markets, their flagship marketplace, is designed to “emulate the world’s most sophisticated exchanges, with deep liquidity, firm prices and low trading costs.”
EDX has structured its business to “minimize risk for its members while providing a diverse array of operational and capital efficiencies.”
Backed by some of the world’s trading and venture capital firms, EDX is actively developing features and “expanding its geographic presence to deliver trusted, liquid and efficient crypto trading experiences for all institutions.”
BitGo is the infrastructure provider of digital asset solutions, “delivering custody, wallets, staking, trading, financing, and settlement services from regulated cold storage.”
Since their founding in 2013, they have focused on “enabling clients to securely navigate the digital asset space.”
With a large global presence through multiple regulated entities, BitGo serves thousands of institutions, “including many of the industry’s brands, exchanges, and platforms, as well as retail investors worldwide.”
As the operational “backbone” of the digital economy, BitGo handles a significant portion of Bitcoin network transactions and is reportedly “the largest independent digital asset custodian, and staking provider, in the world.”
