EDX seeks OCC trust bank charter for institutional crypto custody
Why it matters: If approved, EDX can offer regulated custody to institutional investors, potentially attracting billions of dollars in crypto assets.
- EDX seeks an OCC trust bank charter to separate custody from trading (per source).
- Charles Schwab and Citadel back EDX’s push into regulated institutional crypto custody (The Block).
- Other crypto firms such as Coinbase and Gemini are also pursuing national trust bank charters, indicating industry-wide drive for banking status.
EDX, backed by Citadel and partnered with Charles Schwab, is applying for an OCC trust bank charter to separate its crypto custody business from trading and operate under a regulated banking framework, joining a growing wave of crypto firms seeking national trust charters.
