EDX Markets Seeks National Trust Bank Charter to Expand Digital Asset Custody Services

EDX Markets Holding Company has made significant strides in its ambition to establish itself as a major player in the digital asset custody and settlement space. The company has filed an application with the Office of the Comptroller of the Currency (OCC) to charter EDX Trust as a de novo national trust bank in Chicago. This move is part of a growing trend among crypto and fintech firms seeking national trust bank charters.

The proposed bank would provide fiduciary custody of digital assets and stablecoins, asset management, and settlement services exclusively for institutional clients via electronic channels. EDX Trust would not conduct proprietary trading and would have no physical branches or retail services. All operations would run electronically through APIs and a graphical interface.