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Regulatory development Score 65 Neutral

Citadel-Backed EDX Markets Pursues U.S. Trust Charter to Expand Institutional Crypto Offerings

Apr 01, 2026 19:36 UTC
CIT, BTC-USD, ^VIX
Medium term

EDX Markets, a crypto exchange backed by Citadel Securities, has applied for a national trust bank charter to enhance its institutional services. The move aims to provide custody, asset management, and principal trading under a regulated framework.

  • EDX Markets has applied for a U.S. trust bank charter to expand institutional services.
  • The exchange was launched in 2023 and now supports 21 cryptocurrencies.
  • Custody and settlement operations would be separated into a regulated trust entity.
  • The move aligns with a trend of crypto firms seeking trust charters to attract institutional capital.
  • Institutional clients are prioritizing platforms with traditional market safeguards and regulatory clarity.

EDX Markets, the crypto exchange backed by Citadel Securities, has submitted an application for a national trust bank charter to the Office of the Comptroller of the Currency. This step is part of its strategy to expand services for institutional clients. The filing, revealed by CoinDesk, outlines a structure where custody and settlement operations would be housed within a regulated trust entity, separate from its trading platform. The exchange, which launched in 2023, currently supports 21 cryptocurrencies, having started with four: bitcoin, ether, litecoin, and bitcoin cash. EDX’s CEO, Tony Acuña-Rohter, emphasized the importance of building infrastructure that aligns with traditional market standards to attract institutional investors. The company’s backers include Fidelity Digital Assets and Charles Schwab Corp. As competition in the institutional crypto space intensifies, securing a trust charter could help EDX differentiate itself by offering services that mirror the safeguards of traditional finance. Institutional clients are increasingly seeking platforms with clear regulatory oversight, segregated custody, and reduced counterparty risk. EDX’s application reflects a broader trend among crypto firms seeking trust charters to attract institutional capital under U.S. regulatory frameworks.

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