The Big Financial Institutions are Creating a Crypto Exchange

What is happening? Electronic trading giant Citadel Securities, brokerages Fidelity Investments and Charles Schwab Corp., and high-speed trading firm Virtu Financial Inc. and venture-capital firms Sequoia Capital and Paradigm announced EDX Markets this Tuesday.

Why is this important? No timeline for the launch but it will serve both individual and institutional investors

How will this be important? EDX said the operations of the exchange would be separated from the firms that trade on its marketplace, which “will remove significant conflicts of interest that affect existing cryptocurrency exchanges.”

Wall Street Journal | Fidelity, Schwab, Citadel Securities Plan to Launch New Crypto Exchange