An EDX application for a trust bank license, supported by Citadel

EDX Markets, a cryptocurrency exchange backed by Citadel Securities, recently filed an application with the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank. This move reflects how, under the relatively more permissive regulatory approach of the Trump administration, the digital-asset industry is actively seeking to integrate into the traditional financial system. If the application is approved, EDX will be able to legally provide asset custody, asset management, and proprietary trading services, while maintaining its existing order-matching business.

Different firms are rushing to apply for the OCC national trust bank license

Driven by the Trump administration, the United States’ regulatory stance toward digital assets is trending toward openness, creating an opportunity for crypto companies to enter the mainstream financial system. Last December, five crypto companies—including Circle and Ripple—had already received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) for national trust bank licenses. This shows that regulators are gradually building a framework that allows compliant platforms to operate to standards similar to those of traditional financial institutions. This policy shift reduces regulatory uncertainty for the industry and also prompts more large capital to reassess the feasibility and strategic value of entering the crypto market.

(Crypto companies such as Circle and Ripple receive OCC national trust bank licenses)

EDX addresses systemic risk stemming from vertical integration

In traditional financial markets, the responsibilities of brokers, exchanges, and custodians are strictly separated to ensure market fairness and security. However, at present, the digital-asset market broadly features “vertical integration,” where a single entity often controls both trading and custody functions. In its documents, EDX objectively points out that this model can easily lead to potential conflicts of interest and is more likely to become a single point of failure that causes “systemic risk.” Moving custody operations under a trust bank structure regulated by the OCC can provide customers with stronger protection.

Traditional financial capital’s positioning and competitive advantages

EDX is a company supported by major Wall Street firms such as Citadel Securities, Fidelity, and Schwab. Since its founding, EDX Markets’ core positioning has been to serve traditional financial participants who are interested in digital assets. Unlike crypto exchanges, EDX is a “non-custodial” exchange: it does not hold users’ assets, but instead provides a market where people can buy and sell cryptocurrencies.

(Something is coming! Wall Street giants Citadel, Fidelity, and Charles Schwab support exchange EDX, which officially goes live this week)

CEO Tony Acuña-Rohter expects that the next wave of growth momentum in the crypto market will come from large banks. Obtaining an OCC charter license will give EDX a higher level of compliance, enabling it to gain a significant competitive advantage when serving large institutional clients, which will further accelerate the full institutionalization of the digital-asset market.

This article, The cryptocurrency exchange EDX supported by Citadel applies for a trust bank license, was first published on Chain News ABMedia.