EDXM Global, part of EDX, a technology firm that operates institution-only trading venues for digital assets, plans to launch its perpetual futures trading venue in the first quarter of 2025. This follows the launch of its Singapore-based settlement service in May 2024.

The platform will enable trading for perpetual futures contracts in bitcoin and ether, with major cryptocurrencies such as Solana and XRP to be listed in the months following the launch.

EDXM Global’s new perpetual futures venue is at Equinix’s TY3 data centre in Tokyo and fortified by a central clearinghouse and single net settlement process, which reduces the upfront capital required to trade and minimizes credit risk.

The venue also has a unique bankruptcy-remote structure that enables members to retain ownership of their currency deposits. Accessible via graphical user interface or application programming interface, the venue will begin client onboarding this month. 

The new venue will launch under the leadership of EDXM Global’s new chief executive officer Kai Kono, who has held leadership roles at institutional digital asset firms, including Zodia Custody, since 2018. Kono also brings over 10 years of experience from traditional financial firms such as Bank of America Merrill Lynch and Lehman Brothers.

“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. We’re excited to launch this new business and have complete confidence in its success under Kai’s leadership,” says EDX CEO Jamil Nazarali.

EDX has backing from leading names in finance including Citadel Securities, Fidelity Digital Assets, Virtu Financial, Charles Schwab, Sequoia, and Paradigm.