PANews reported on April 2nd that, according to The Block, EDX Markets, a cryptocurrency exchange backed by Wall Street giants such as Citadel Securities, Fidelity Investments, and Charles Schwab, has applied for a National Trust Banking License from the U.S. Office of the Comptroller of the Currency (OCC). EDX's CEO stated that obtaining an OCC-licensed trust license will give it a competitive advantage in serving large banking clients. This license does not allow crypto companies to conduct traditional banking activities such as accepting deposits or making loans, but it helps attract institutional clients. In its application, EDX stated that the digital asset market currently lacks the separation of functions found in traditional markets, and hopes to fill this gap by obtaining a license.