Citadel-backed EDX Markets applies for U.S. trust charter to expand institutional crypto services

The Citadel-backed exchange is seeking approval to offer custody and asset services as institutional demand grows. What to know : EDX Markets, a crypto exchange backed by Citadel Securities, Fidelity and Charles Schwab, has applied to the Office of the Comptroller of the Currency for a national trust bank charter to expand services for institutional clients. If approved, the charter would let EDX offer custody, asset management and principal trading through a regulated trust entity that is structurally separated from its core trading platform. The move comes as competition intensifies among crypto firms seeking trust bank charters to provide regulated custody and settlement services that mirror traditional market safeguards and attract large financial institutions.(Coindesk)