EDX Markets, which is backed by Fidelity Digital Assets, Charles Schwab and Citadel Securities, is adding 17 new cryptocurrencies to its platform, transforming its previously limited selection into a more robust trading platform as it gets ready to absorb growing institutional demand for crypto.

“From the outset, we were designed and built for institutions for exactly what’s happening right now,” EDX Markets CEO Tony Acuña-Rohter, told CoinDesk.

Acuña-Rohter was appointed CEO of the exchange in December after founder and then-CEO Jamil Nazarali moved to the position of executive chair of the EDX Board. “We were quite fortunate because FTX happened, crypto winter followed, which gave us two years to build out our technology,” said Acuña-Rohter. “Now we have this company that’s ready to absorb all the new entrants from traditional finance.”

This article originally appeared on CoinDesk. Read the full article here.