Breaking News: Cryptocurrency news from 3 companies worth 12 trillion dollars! Everyone is in Shock!

Cryptocurrency investors are witnessing a historic day. Companies that manage more than $12 trillion in assets in total will now allow direct investments in cryptocurrencies.

Bitcoin (BTC) turned its direction down after high inflation data. It happened as we warned earlier. But the news that just came in is extremely important, that a company with more than $8 trillion in assets under management is entering the crypto business with a partner. Bitcoin has not yet reacted to this development.

Trillion Dollar Crypto Gospel

Charles Schwap, Cidatel and Fidelity announced that they have established a crypto money exchange called EDX Markets with the announcement made a while ago. There are more than $8 trillion in assets under the management of Charles Schwap alone.

With the 2 breaking news we published yesterday, we mentioned that Fidelity will direct individual customers to cryptocurrencies. Fidelity has been interested in cryptocurrencies for years, and Charles Schwap recently made important statements embracing cryptocurrencies. Now the reason for this is clear. They are directly entering the cryptocurrency business. According to a Tuesday press release, financial giants Charles Schwab (SCHW), Citadel Securities and Fidelity Investments (FNF) and others have announced the launch of crypto exchange EDX Markets.

EDX Markets will be led by CEO Jamil Nazarali, CTO Tony Acuña-Rohter and general counsel David Forman. The new exchange is part of the trend of traditional financial companies to become increasingly interested in crypto.

Big News For Cryptocurrencies

Fidelity and Charles Schwap already serve tens of millions of individual investors. Moreover, the capital strength of these individual investors is much more than you can imagine. The total amount of assets managed by the two investment giants belonging to their individual and corporate customers is over 12 trillion dollars. That is about 12 times the cumulative value of cryptocurrencies.

In today's announcement, they also announced that they have other high-profile backers such as Virtu Financial and venture capital giants Sequoia Capital and Paradigm.

“Crypto is a $1 trillion global asset class with over 300 million participants and millions more in demand. EDXM's board will be a platform that can meet the needs of both individual and institutional investors with high standards of compliance and security to unlock this demand.”

We will see the effects of this news much more clearly in the coming months and we will definitely remember how an important turning point today was.

Source: coin-turk.com