Charles Schwab, Citadel-backed EDX joins list of crypto firms seeking national trust bank charter
The Block
EDX Markets has applied for a national bank charter to enhance its custody, asset management, and trading settlement services for institutional clients.Summary
EDX Markets, a cryptocurrency exchange backed by major financial institutions including Citadel Securities, Fidelity Investments, and Charles Schwab, has filed for a national bank charter with the Office of the Comptroller of the Currency (OCC). The firm aims to provide custody, asset management, and trading settlement services, positioning itself to better serve large institutional clients. By seeking this charter, EDX intends to address the lack of functional separation in digital asset markets, mirroring the structure of traditional equity and derivative markets.
(Source：The Block)