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

Odaily · 2026-04-01T22:14:52+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.

Odaily

2026-04-01 22:14:52

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Odaily Planet Daily, an encrypted trading platform EDX Markets, supported by Charles Schwab, Citadel Securities, and Fidelity, has applied to the Office of the Comptroller of the Currency (OCC) in the United States for a national trust bank charter.

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

EDX said that obtaining the charter will 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, indicating that the industry is accelerating its move toward a regulated financial system.

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