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  3. EDXM Global announces new Singapore-based Perpetual Futures Venue
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EDXM Global announces new Singapore-based Perpetual Futures Venue
17 September 2024 Singapore
Reporter: Klea Neza

Image: Richie Chan/stock.adobe.com
EDXM Global has announced the forthcoming launch of its perpetual futures venue, located in Tokyo at Equinix’s TY3 data centre and fortified by a central clearinghouse and single net settlement process.

The venue also has a unique bankruptcy-remote structure that enables members to retain ownership of their currency deposits.

Accessible via GUI or API, the venue will begin client onboarding this month, notes the firm.

The venue will launch under the leadership of EDXM Global’s new CEO, Kai Kono, who has held leadership roles at institutional digital asset firms, including Zodia Custody, since 2018.

Kono comments: “I am thrilled to lead EDXM Global’s growth in APAC and to help accelerate the adoption of digital asset strategies for institutions in the region. Many of these firms have long had the desire to enter this space, but have been reluctant to do so given the perceived risks. Now that EDXM Global can deliver crypto derivatives trading within a familiar, secure trading environment, I anticipate strong interest from a wide range of participants.”

Jamil Nazarali, CEO of EDX, says: “EDXM Global’s perpetual futures venue will provide clients with a safer, more streamlined experience that reduces costs and improves both capital and operational efficiency.”

Expected to go live in Q1 2025, this venue follows the company’s launch of its Singapore-based settlement service in May 2024 and aims to enable secure, efficient and low-risk trading for perpetual futures contracts in Bitcoin and Ether. Additional major cryptocurrencies, such as Solana and XRP, will be listed in the months following launch.
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