StoneX Group and Enhanced Digital Group announced that StoneX Digital, a division of StoneX, and EDG have entered into a strategic partnership to expand the scope and sophistication of their respective digital asset offerings. As part of the strategic partnership, StoneX has participated in and led EDG’s Series A funding round, acquiring a minority stake in the company.
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StoneX continues to innovate at the intersection of traditional and digital asset brokerage services, enabling clients to express their investment strategies seamlessly through ETFs, futures, and native digital tokens. EDG is a premier provider of bespoke OTC derivatives treasury solutions and structured products for digital assets. The creation of a partnership between StoneX and EDG opens access for each firm to leverage the strengths and depth of the other’s expertise.
This partnership aligns the unique strengths of both organizations. StoneX will draw upon the deep expertise of EDG’s team, backed by over 100 years of combined cross-asset derivatives experience-to offer digital asset options trading and structured products to its institutional client base. EDG will leverage StoneX’s robust digital asset spot and futures offering, enabling the firm to deliver more holistic treasury management and solutions to its clients.
StoneX Digital launched in June of 2022 with a mission to provide institutional clients with sophisticated digital asset trading tools and market access. As financial institutions turn to regulated, established entities for their digital asset needs, StoneX’s robust product portfolio and geographical scale deliver the security and reliability that the market demands.
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EDG was founded by Chris Bae and Chet Sennik in 2021 to expand access to digital financial assets. EDG’s mission to develop bespoke structured solutions for digital assets in traditional formats aligns well with StoneX Digital’s goal of offering both digital asset access and traditional investment products to their clients. By enhancing product development across both traditional financial services and crypto-native firms, an EDG-StoneX Digital partnership promises greater sophistication in crypto derivative trading solutions.
Brian Mulcahy, CEO of StoneX Digital, commented: “StoneX continues to prove its willingness to innovate in support of its global client base. Within StoneX Digital, the goal remains: enable clients to safely and securely integrate a new asset class. By removing friction wherever possible and adding depth and breadth to our product offerings, StoneX Digital and StoneX Group continue to support client growth. This partnership will expedite our time to market to deliver a more robust suite of digital asset products to our institutional clients.”
Eric Rose, Head of Digital Asset Execution, StoneX Digital, said:“As demand for digital asset-structured solutions continues to grow globally, our partnership with EDG will enable StoneX and StoneX Digital clients to have greater access to digital markets and to manage risk efficiently in this nascent asset class.”
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Chris Bae, CEO of EDG, states: “We are proud to have StoneX lead our Series A and to partner with an institution of its stature. StoneX’s breadth and depth strengthens our ability to deliver derivative solutions to the digital asset class. As the industry matures, this is the type of investment and partnership that speaks to the evolving intersection of traditional finance and digital assets.”
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Source : globenewswire