EDX Markets Holding Company, the cryptocurrency exchange backed by Wall Street heavyweights like Citadel Securities, Fidelity Investments, and Charles Schwab, has applied for a national bank charter.
The company submitted an application to the Office of the Comptroller of the Currency in the hopes of gaining approval to provide custody, asset management, and trading settlement.
Several crypto firms have recently applied for the national banking charter, including Bridge, Ripple, Circle, BitGo, Fidelity Digital Assets, and Paxos.
“It is without a doubt that the next wave of crypto will be the large banks,” EDX Chief Executive Officer Tony Acuña-Rohter told Bloomberg. “And in order for us to be able to service these firms, we think it gives us a competitive advantage to be an OCC-chartered trust.”
Securing the charter will not permit crypto firms to offer traditional banking activities such as accepting deposits or making loans, but an approval could help companies attract institutional clients.
In its filing, EDX said it wants to fill a gap in the current digital asset market structure in the U.S.
“In traditional markets such as equities and derivatives, there is a separation of duties among brokers who service retail clients; market makers who provide liquidity; exchanges that provide trade matching services; and custodians that hold assets on behalf of the various market participants,” the filing reads. “Digital asset markets are still evolving, but to date have lacked this separation of functions.”
EDX is also backed by Paradigm, Sequoia Capital, and Virtu Financial. The exchange launched in 2023.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
