EDX crypto exchange completes Series B led by Pantera and Sequoia

EDX Marketsa exchange crypto founded by Wall Streethas just opened its clearing house EDX Clearing and to close a new fund-raising.

Launched last summer by Charles Schwab, Citadel, Fidelity, Virtu Financial and crypto VCs, the EDX Markets platform revealed on Tuesday that it had raised funds from Pantera Capital and Sequoia Capital.

The Series B round, the amount of which was not disclosed, will accelerate the exchange’s international development. Other founding members, including Citadel, Fidelity and Virtu, also put their money in the pot.

Pantera’s investment in EDX demonstrates the success of our model and our ability to attract quality investors to EDX,” said EDX CEO Jamil Nazarali in a statement.

At the same time, the American company announced the opening of a new clearing house. For Nazarali, EDX Clearing represents a “major differentiating factor”, as the chamber streamlines settlement while reducing counterparty risk and the capital requirements of its customers.

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Crypto institutional investors are more concerned than ever about managing counterparty risk […] EDX is set to usher in a new era for institutional crypto-currency trading,” said Pantera’s Paul Veradittakit.

On BloombergNazarali said that as part of its international expansion, EDX was planning to set up a platform in Singapore to serve the Asian continent.

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