EDX Markets Seeks National Trust Bank Status

EDX Market, a cryptocurrency exchange, has applied to the Office of the Comptroller of the Currency (OCC) to become a national trust bank. This move, revealed on Wednesday, April 1, aims to establish EDX as a de novo national bank with operations focused on custody and asset management services. The application signifies a growing trend of crypto firms seeking traditional banking licenses to enhance their services and regulatory standing within the financial sector. This strategic pivot could offer greater stability and broader service capabilities for the digital asset market.