EDX Markets Seeks Trust Charter for Crypto Expansion

EDX Markets, a cryptocurrency exchange backed by financial giants like Citadel Securities, Fidelity, and Charles Schwab, has applied for a national trust bank charter from the Office of the Comptroller of the Currency. This strategic move aims to significantly expand its services for institutional clients by offering regulated custody, asset management, and principal trading. The proposed structure separates these functions into a regulated trust entity, mirroring traditional financial market safeguards and addressing the growing demand from large financial institutions seeking secure and compliant digital asset infrastructure. This application underscores the intensifying competition among crypto firms to attract institutional capital through regulated offerings.