EDX Markets, the crypto exchange backed by Citadel Securities, has applied for a national trust bank charter, marking a new step in its push to serve institutional clients.
The exchange submitted its filing to the Office of the Comptroller of the Currency on Wednesday, according to documents seen by CoinDesk. The move comes about three and a half years after the firm launched.
If approved, the charter would allow EDX to offer custody, asset management and principal trading services, while continuing to run its core order-matching platform. The filing outlines a structure where custody and settlement sit within a regulated trust entity, separate from trading operations.
EDX Markets targets traditional finance firms entering digital assets. Its backers include Fidelity Digital Assets and Charles Schwab Corp, alongside Citadel Securities. The platform went live in the summer of 2023 with four cryptocurrencies: bitcoin BTC$68,166.27, ether (ETH), LTC$54.20 and bitcoin cash (BHC). It has since expanded to include 17 additional tokens.
“EDX Trust is a key step in bringing traditional market structure to digital assets,” CEO Tony Acuña-Rohter told CoinDesk. “By separating custody and settlement into a regulated trust, we’re building the kind of infrastructure banks and institutional investors expect as they scale into the space.”
EDX is not alone in seeking this type of regulatory footing. Several crypto firms have applied for and received trust bank charters in recent years, using them to offer custody and other services under U.S. oversight. These approvals have become a key pathway for firms looking to attract institutional capital.
Competition for those clients has intensified. Large asset managers and trading firms want platforms that mirror the safeguards and structure of traditional markets. In practice, that can mean segregated custody, clear settlement processes and regulated entities that reduce counterparty risk. For exchanges like EDX, securing a trust charter could help bridge that gap.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
SIX Taps Chainlink to Deliver Equities Data Onchain
SIX has integrated Swiss and Spanish equities data onchain via Chainlink's DataLink, enhancing access to over 75 blockchain networks. This allows the use of verified market data in various digital finance products, meeting growing institutional demands for reliable data.
CryptoFrontNews6h ago
X's Cashtags Feature Generates $1B in Trading Volume Within Days of Launch
X has launched the Cashtags feature, integrating financial trading into its social feed, generating $1 billion in trading volume shortly after its release. Currently available for iPhone users in the U.S. and Canada, it allows easy access to market data and discussions. X Money, a peer-to-peer wallet, is set for rollout amid regulatory concerns, while a new integration with Wealthsimple enables direct in-app trading.
GateNews6h ago
Luffa Partners with Digital Asset Platform to Integrate AI-Powered Crypto Trading
Luffa, a Web3 social ecosystem, partnered with a digital asset trading platform to integrate AI-driven trading features, enhancing secure communication and trading in a unified interface while maintaining decentralization and risk mitigation.
GateNews10h ago
DGrid AI and Stable Form Partnership to Advance AI Infrastructure for Blockchain Payments
DGrid AI partners with Stable to integrate AI into blockchain payment systems, simplifying access for developers and enhancing scalability for AI-driven financial applications. This collaboration aims to advance the intersection of AI and blockchain in digital finance.
GateNews11h ago
Audiera Integrates $BEAT Token into Alchemy Pay's Global Payment Infrastructure
Audiera has teamed up with Alchemy Pay to allow users to convert fiat currencies into $BEAT tokens easily. This integration enhances accessibility to Audiera's Web3 entertainment platform, attracting a broader audience and simplifying crypto adoption.
GateNews11h ago
Rakuten Pay Integrates XRP for Payments and Loyalty Use
Rakuten will integrate XRP payments for 44 million users, linking the token to over 5 million merchants in Japan. Users can convert loyalty points to XRP, facilitating everyday spending and enhancing real-world adoption of crypto.
CryptoFrontNews12h ago
