EDX Markets Holding Company, Inc. applied to the Office of the Comptroller of the Currency (OCC) this week, seeking approval to organize EDX Trust, National Association as a de novo national trust bank in Chicago.
EDX Markets Holding Company Files OCC Charter Application for Crypto Trust BankThe platform operates on a non-custodial model, meaning it does not hold client assets during trading, a structure that mirrors how traditional finance (TradFi) firms separate custody from execution. The proposed trust bank would not change that separation. EDX Trust would handle custody, asset management, and settlement. Order matching and trading would remain with its affiliate, EDX Markets LLC.
CEO José Antonio Acuña-Rohter, who previously led ErisX and Cboe Digital, is heading the effort. The bank would have no physical branches and no retail services. All operations would run electronically through APIs and a graphical interface.
The OCC added the application to its public list of pending digital asset licensing applications on March 26. No decision timeline has been announced.
A new OCC final rule, effective April 1, 2026, clarifies that national trust banks may engage in operations of a trust company and activities related to non-fiduciary digital asset custody on a case-by-case basis. The rule removes one layer of legal ambiguity that had slowed institutional adoption.
A federal charter allows a firm to operate nationwide under a single regulatory framework, bypassing most state-by-state licensing requirements. For institutions that require regulated custody before allocating to digital assets, that distinction carries weight.
FAQ What is EDX Markets applying for? EDX Markets Holding Company filed an application with the OCC on March 25, 2026, to charter EDX Trust, National Association, as a de novo national trust bank in Chicago focused on institutional digital asset custody and settlement. Who backs EDX Markets? Key investors include Citadel Securities, Fidelity Digital Assets, Charles Schwab, Virtu Financial, Paradigm, Sequoia Capital, and Hudson River Trading. What services would EDX Trust offer? The proposed bank would provide fiduciary custody of digital assets and stablecoins, asset management, and settlement services exclusively for institutional clients via electronic channels. Has the OCC approved the EDX Trust application? No decision has been announced; the OCC listed the application as pending on March 26, 2026, and will review it for safety, soundness, and compliance.
