EDX Markets Applies for OCC National Trust Charter for Institutional Crypto Custody

Apr 3, 2026

EDX Markets, a crypto exchange backed by Citadel Securities, Charles Schwab, and Fidelity Digital Assets, submitted an application to the Office of the Comptroller of the Currency on April 1, 2026, for a national trust bank charter to offer regulated custody and asset management services. The exchange, which launched in summer 2023 with four cryptocurrencies and has since expanded to 21 tokens, joins at least eight other crypto firms pursuing similar federal banking charters. CEO Tony Acuña-Rohter outlined a structure separating custody and settlement within a regulated trust entity from EDX's core trading platform, targeting traditional finance firms that demand segregated custody, clear settlement processes, and reduced counterparty risk. The move reflects intensifying competition among crypto platforms to attract institutional capital through federally regulated infrastructure that mirrors traditional market safeguards.

EDX Markets' Application for National Trust Charter

▪EDX Markets has expanded to include 17 additional tokens since its initial launch.
▪EDX Markets launched approximately three and a half years before April 1, 2026.
▪The national trust bank charter would allow EDX Markets to offer custody, asset management, and principal trading services.
▪EDX Markets submitted a filing for a national trust bank charter to the Office of the Comptroller of the Currency on Wednesday.
▪EDX Markets went live in the summer of 2023 with four cryptocurrencies: bitcoin, ether, LTC, and bitcoin cash.
▪EDX Markets is a crypto exchange backed by Citadel Securities, Fidelity Digital Assets, and Charles Schwab Corp.

Institutional Crypto Infrastructure and Regulatory Strategy

▪EDX Markets' filing outlines a structure where custody and settlement sit within a regulated trust entity, separate from trading operations.
▪Institutional investors expect segregated custody, clear settlement processes, and regulated entities that reduce counterparty risk.
▪The national trust charter would let EDX Markets offer custody and asset services through a regulated trust entity that is structurally separated from its core trading platform.
▪EDX Markets targets traditional finance firms entering digital assets.
▪Large asset managers and trading firms want platforms that mirror the safeguards and structure of traditional markets.

Competitive Landscape for Crypto Trust Charters

▪Crypto firms are seeking trust bank charters to provide regulated custody and settlement services that mirror traditional market safeguards.
▪Several crypto firms have applied for and received trust bank charters in recent years to offer custody and other services under U.S. oversight.
▪Trust bank charter approvals have become a key pathway for crypto firms looking to attract institutional capital.
▪Competition for institutional clients has intensified among crypto firms seeking trust bank charters.

Perspective of EDX Markets

▪EDX Markets' trust charter application reflects institutional clients' demand for custody infrastructure that mirrors traditional market safeguards.
▪EDX Markets' proposed trust entity structure would provide institutional investors with segregated custody separate from trading operations.
▪EDX Markets aims to attract traditional finance firms entering digital assets through regulated custody services.