Overview
- EDX Markets, which disclosed its OCC application Wednesday, seeks a national trust bank charter to create EDX Trust for custody, clearing, settlement and risk controls.
- If approved, the Citadel Securities–backed exchange could add regulated custody, asset management and principal trading while keeping its order‑matching venue.
- EDX says placing custody and settlement in a separate trust would reduce conflicts on vertically integrated crypto platforms and match how stock and derivatives markets separate key functions.
- An OCC rule that took effect April 1 clarifies what non‑fiduciary activities national trust banks can do, which lawyers say could make these charters more useful for digital‑asset firms.
- Community bankers warn the trust‑bank path for crypto could expose consumers and strain oversight, even as EDX pitches the model as the safer way to serve banks and large investors.