EDX Applies for U.S. Trust Bank License Supported by Charles Schwab, Citadel, and Fidelity

AirdropBlackHole · 2026-04-01T23:32:33+00:00

EDX Markets has applied for a national trust bank license to enhance its cryptocurrency services, aiding institutional clients. This move reflects a trend among crypto firms towards regulation and integration with traditional finance.

AirdropBlackHole

2026-04-01 23:32:33

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On April 2, EDX Markets, a cryptocurrency trading platform supported by Charles Schwab, Citadel Securities, and Fidelity, applied for a national trust bank license from the Office of the Comptroller of the Currency (OCC). This license will allow EDX to provide services such as digital asset custody, asset management, and trade settlement, but will not include traditional banking activities like accepting deposits or issuing loans. EDX stated that obtaining this license will help it better serve institutional clients and gain a competitive edge in the ongoing institutionalization wave within the cryptocurrency industry. Recently, several cryptocurrency companies, including Ripple, Circle, BitGo, Paxos, and Fidelity Digital Assets, have also been applying for similar licenses, indicating that the industry is accelerating its alignment with regulated financial systems.

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