EDX Markets Files for National Trust Bank Charter to Strengthen Institutional Crypto Services

EDX Markets, the institutional cryptocurrency exchange backed by financial heavyweights Citadel Securities, Fidelity Digital Assets, and Charles Schwab Corp, has taken a significant regulatory step by applying for a national trust bank charter through the Office of the Comptroller of the Currency (OCC). The filing marks a pivotal move in the platform's ongoing effort to deepen its footprint among traditional finance institutions entering the digital asset space.

If granted, the charter would enable EDX to legally provide custody, asset management, and principal trading services alongside its existing order-matching platform. Notably, the proposed structure separates custody and settlement functions into a dedicated regulated trust entity, keeping them distinct from core trading operations — a design intentionally mirroring the safeguards institutional investors have long expected in conventional financial markets.

CEO Tony Acuña-Rohter emphasized that the trust structure is about building credible infrastructure at scale. Separating custody and settlement into a regulated trust entity, he noted, is the kind of foundation that banks and institutional investors need as they expand their digital asset exposure.

Since launching in the summer of 2023 with four cryptocurrencies — Bitcoin, Ether, Litecoin, and Bitcoin Cash — EDX has grown its token offerings to include 17 additional assets. The exchange was purpose-built to serve institutional clients, offering a trading environment that reflects the structure and compliance standards of traditional financial markets.

EDX is not the first crypto firm to pursue this regulatory pathway. Trust bank charters have become an increasingly attractive route for digital asset companies looking to operate under formal U.S. oversight and attract risk-conscious institutional capital.

As competition for institutional clients intensifies across the crypto industry, securing regulated status could give EDX a meaningful edge, offering the segregated custody, transparent settlement, and reduced counterparty risk that large asset managers and trading firms increasingly demand.