TechFlame News: EDX Markets, a cryptocurrency trading platform backed by Charles Schwab, Citadel Securities, and Fidelity, has applied to the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter.

This charter would enable EDX to offer services such as digital asset custody, asset management, and trade settlement, but excludes traditional banking activities like accepting deposits or issuing loans.

EDX stated that obtaining this charter will help it better serve institutional clients and gain a competitive edge amid the wave of institutionalization in the cryptocurrency industry.

Recently, several crypto companies, including Ripple, Circle, BitGo, Paxos, and Fidelity Digital Assets, have also applied for similar charters, indicating that the industry is accelerating its integration into the regulated financial system.