CRYPT — A recent press release announced the launch of EDX Markets, a “first-of-its-kind digital asset marketplace designed to enable safe and compliant exchange of digital assets through trusted intermediaries.” EDX Markets is a “first-of-its-kind digital asset marketplace designed to enable safe and compliant exchange of digital assets through trusted intermediaries.”
According to the press release, EDX Markets is backed by a number of leading financial institutions and “will facilitate transactions against a central counterparty, allowing participants to benefit from increased price competition and reduced risk of regulation, while increasing operational efficiency”.
Another recent press release announced that the subsidiary of a major American company specializing in blockchain and cryptocurrency solutions had obtained “approval in principle of the application for a major payment institution license from of the Monetary Authority of Singapore (MAS)”. According to the press release, this license will allow the company to “further expand its customers’ use of its crypto On-Demand Liquidity (ODL) service” and enable “the offering (of) payment token products regulated digital and services in the city-state. Both of these things will be possible through the granting of the license.
A self-custodial bitcoin wallet app made a third recent announcement, in which it offered details about new relationships with two major cryptocurrency exchanges. These partnerships would allow app subscribers to “transfer and purchase bitcoins through these platforms with a seamless and integrated experience.” According to the statement, the wallet app would “display the total cost of the transaction offered by the various partners so customers can decide which partner is right for them before being redirected to the partner-hosted experience.”
As the latest news, a recent report indicates that the asset management arm of two major European banks has been registered by French regulators to provide cryptocurrency custody services. This marks the latest and greatest development in this space. According to recent reports, the new cryptocurrency custody service will, from 2024, be subject to regulation under the new crypto licensing standards set by the European Union and called MiCA.