EDX, a crypto exchange, is seeking a trust bank charter from the OCC. This move aims to separate crypto custody from trading, offering regulated services to institutions and expanding its offerings within a banking framework.

Crypto exchange EDX is applying for a special bank license from the Office of the Comptroller of the Currency (OCC). This license, called a trust bank charter, would allow EDX to offer secure custody services for digital assets, keeping them separate from its trading operations. This move is important for attracting large institutional investors who require regulated and secure ways to hold their cryptocurrencies. By operating under a banking framework, EDX aims to expand its services and provide a safer environment for handling digital funds.