SINGAPORE -- EDXM Global announced the forthcoming launch of its perpetual futures venue. EDXM Global is a part of EDX, a family of digital asset technology companies that delivers trusted, liquid and efficient crypto market structures. Expected to go live in Q1 2025, this new venue follows the company’s launch of its Singapore-based settlement service in May 2024 and will 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.

EDXM Global’s new perpetual futures venue is located in Tokyo at Equinix’s TY3 data center 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 GUI or API, the venue will begin client onboarding this month. More information can be found at www.edxmarkets.com/edxmglobal.

The new 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 also brings over 10 years of experience from traditional financial firms such as Bank of America Merrill Lynch and Lehman Brothers.

Kono is joined by Chief Compliance Officer Rakesh Madamanchi, who was previously Head of Compliance at Blockchain.com. Madamanchi’s background includes over 15 years of legal and compliance experience at global banks including Wells Fargo, ANZ and Standard Chartered Bank. Kono and Madamanchi are based in EDXM Global’s Singapore headquarters.

Jamil Nazarali, CEO of EDX, said, “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.”

Kono commented, “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.”