EDX Markets Seeks U.S. Trust Bank Charter to Enhance Institutional Services
- EDX Markets, backed by Citadel Securities, has applied for a national trust bank charter.
- The application was submitted to the Office of the Comptroller of the Currency on Wednesday.
- If approved, EDX will offer custody, asset management, and principal trading services.
- The platform launched in summer with four cryptocurrencies and now supports a total of 21 tokens.
- CEO Tony Acuña-Rohter emphasized the importance of regulated custody and settlement for institutional investors.
EDX’s move aligns with other crypto firms seeking trust bank charters to enhance their offerings under U.S. regulation, aiming to attract institutional capital by providing secure platforms similar to traditional finance structures.
The potential approval of EDX’s trust charter could significantly bolster its capabilities in serving institutional clients as it expands from four initial cryptocurrencies to a broader range of assets. (Source)
