Hold My Beer: Citadel-Backed EDX Markets Just Filed to Become Your Regulated Crypto Bank

EDX Markets, the cryptocurrency exchange backed by Citadel Securities, has officially filed paperwork to become a national trust bank in the United States—because apparently just printing money wasn't enough for the TradFi crowd, they want in on the magic internet money too.

The timing is about as conspicuous as a Bitcoin ETF approval: landing right during the Trump administration's era of "crypto-friendly" policy, which translates to regulators suddenly developing a bad case of the shrugs when it comes to anything blockchain. If approved by the OCC, EDX Markets would be able to offer custody, asset management, and principal trading services—essentially becoming a one-stop shop for institutions that want crypto exposure without having to touch anything that smells remotely like a DEX.

CEO Tony Acuña-Rohter dropped some alpha when he noted that large banks will form the next wave of growth in the crypto market. Bold words from a guy who's essentially trying to build the On-Ramp God while JPM and GS are still figuring out which bathroom to use. He added that an OCC-licensed trust structure would provide a significant competitive edge when serving institutional clients—because nothing says "we're serious about crypto" like getting a charter from the same people who spent years calling it a Ponzi scheme.

The relaxation of cryptocurrency regulations during the Trump administration is opening the door for more traditional finance companies to enter the crypto world, like a bunch of tourists discovering a hidden bar that locals have been drinking at for years. The vibes have shifted from "regulatory clarity is coming" to "full send on regulatory capture," and honestly? We're just here for the memes at this point.

*This is not investment advice.