Institutional crypto exchange EDX Markets has selected Anchorage Digital to provide custody solutions for its upcoming clearinghouse business.

Anchorage Digital will provide regulated custody for EDX Clearing when it launches later this year, according to a statement. EDX Markets previously announced it would work with Paxos as a custodian in October.

"Anchorage Digital has a robust security, governance, risk and compliance framework, which will provide a best-in-class solution to meet the needs of our institutional client base," EDX CEO Jamil Nazarali said. "As the only federally chartered crypto bank in the U.S., Anchorage Digital Bank is the ideal partner to support EDX’s build of a robust and compliant clearinghouse business."

EDX Clearing will settle trades on EDX with a single …