EDX Markets’ bid for a federal trust bank charter, backed by Citadel and Fidelity, aims to move crypto custody and settlement into the U.S. regulated banking system. The effort is a high-stakes test of whether Wall Street can internalize core crypto infrastructure under federal oversight.
EDX Markets, backed by Citadel, has applied for a U.S. trust charter to offer custody and asset services to institutional clients amid rising demand. Approval would make the exchange a regulated custodian and could help attract larger institutional flows.