EDX, supported by Charles Schwab, Citadel, and Fidelity, applies for a U.S. trust bank license

SmartContractAuditor · 2026-04-01T21:21:34+00:00

EDX Markets applies for a national trust bank license, supported by Charles Schwab and others, and will provide institutional clients with digital asset custody, management, and trading settlement services, marking the industry's accelerated move towards a regulated financial system.

SmartContractAuditor

2026-04-01 21:21:34

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Odaily Planet Daily News: The crypto trading platform EDX Markets, backed by Charles Schwab, Citadel Securities, and Fidelity, has applied to the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter.

The charter would allow EDX to provide services such as digital asset custody, asset management, and trade settlement, but it does not include traditional banking business like accepting deposits or making loans.

EDX said that obtaining the charter would help it better serve institutional clients and gain a competitive advantage amid the institutionalization wave in the crypto industry.

Recently, multiple crypto companies, including Ripple, Circle, BitGo, Paxos, and Fidelity Digital Assets, have also been applying for similar licenses, showing that the industry is accelerating its move toward regulated financial systems.

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