"EDX Markets Holding Company, Inc. applied to the Office of the Comptroller of the Currency this week, seeking approval to organize EDX Trust, National Association as a de novo national trust bank in Chicago."
"The proposed trust bank would not change the non-custodial model of EDX Markets, which separates custody from execution, ensuring that order matching and trading remain with its affiliate, EDX Markets LLC."
"If approved, EDX Trust would offer fiduciary custody of digital assets, cash, and stablecoins, using sub-custodian banks to manage private keys and reduce single points of failure."
EDX Markets Holding Company, Inc. has applied to the OCC to create EDX Trust, a national trust bank in Chicago. The application seeks fiduciary powers to provide digital asset custody, asset management, and settlement services exclusively for institutional clients. EDX Trust will maintain a non-custodial model, separating custody from trading. If approved, it will offer fiduciary custody of digital assets and manage cash and stablecoins, targeting returns near the federal funds rate while providing settlement services for clients on the EDX Markets platform.
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