Edgewater Markets LLC., the NFA-registered non-bank foreign exchange (forex) liquidity provider announced on Wednesday that it has launched a new company – Edgewater Digital Technologies Inc.
Edgewater Digital will be launching a digital asset trading platform for institutional investors, Crypto Prime Trader, in the future once it secures regulatory approval.
The platform will provide investors with access to the digital asset markets, while Edgewater Digital will act as principal as required to carry out the transactions, the statement said.
In order to launch the Crypto Prime Trader platform, Edgewater Markets invested capital, trading technology, and personnel. The platform will also act as an on-ramp for digital asset trading to the FX firm’s customers and other institutional trading companies.
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Commenting on the launch, Skovran Schreder, the Chief Executive Officer (CEO) and Co-Founder of Edgewater Markets, said: “As in the fiat trading market, there will be many trading platforms that will co-exist in the institutional crypto market.
“We believe the leading platforms will be established in the next 12 to18 months. Edgewater has the currency trading experience, technology expertise and customer relationships necessary to establish itself as one of the leading platforms.”
Edgewater to Support the Growth of Digital Asset Trading
Initially, the New York-based company is offering Accredited Investors up to $25 million of preferred equity in a private placement, under Exemption 506(c) to the 1933 Act. The funds can be used for operating capital or the further development and adaptation of the technology platform.
“We are excited to support the growth of digital asset trading and contribute our technology and expertise to further advance development of the crypto market,” added Schreder.
Rialto Trading Network LLC is the Managing Broker-Dealer for this offering whilst VENTURE.co Brokerage Services is the Co-Manager. Both of these firms are a member of the Financial Industry Regulatory Authority (FINRA) and Securities Investor Protection Corporation (SIPC).