TL;DR:
- Entity and Regulator: EDX Markets formally filed its application with the Office of the Comptroller of the Currency (OCC) on March 25, 2026.
- Service Scope: Approval would allow the firm to offer nationwide custody, asset management, and principal trading without requiring individual state licenses.
- Political Context: The move follows a pro-crypto trend under the current administration, following the approval of five similar charters last December.
The EDX Markets platform, widely known as the Citadel Securities-backed crypto exchange, has formally applied for National Trust Bank status. With this application, the platform seeks to consolidate its operational infrastructure under a single, robust federal supervision.
Citadel's crypto exchange is applying to be a national bank trust so it can provide custody, asset mgt and trading services. pic.twitter.com/CIc49YaMV3
— Eric Balchunas (@EricBalchunas) April 1, 2026
This move reflects the need to attract major financial institutions that demand clear regulatory frameworks. Backed by giants such as Fidelity and Charles Schwab, EDX aims to differentiate itself through a model that separates trade execution from asset custody.
However, the path to federal approval involves meeting rigorous solvency and compliance standards. Currently, only a small group of companies in the sector, such as Anchorage Digital, fully operate under this level of banking recognition in the U.S.
A New Standard for Institutional Digital Asset Custody
EDX Markets’ ambition is not limited to brokerage; it also aims to transform trust within the ecosystem. By achieving national bank status, the company could manage client cash balances and stablecoins in highly liquid assets under traditional banking regulations.
Furthermore, the firm’s CEO, Tony Acuña-Rohter, emphasized that the next wave of adoption will come from traditional banking. In this sense, holding an OCC charter provides a critical competitive advantage for serving firms managing multi-billion dollar capitals.
The application by EDX Markets marks a milestone in the convergence between Wall Street and digital assets. If approved, the firm will become a fundamental pillar for the definitive entry of global banks into the cryptocurrency market.
