EDX Markets (Schwab-backed) seeks crypto custody bank charter
Key Questions
What is EDX Markets' recent filing with the OCC?
EDX Markets, backed by Schwab, Citadel, and Fidelity, filed on March 25 with the OCC for an institutional custody bank charter. This supports spot BTC/ETH custody.
What is the status of Schwab Crypto trading?
Schwab Crypto waitlist is open for direct Bitcoin and Ether trading via Premier Bank. Phased Q2 rollout in H1 2026, excluding NY/LA pending regulatory approvals, with low fees.
How does Schwab's crypto entry impact liquidity?
With $12T AUM and 46M+ clients, Schwab's entry could flood crypto with liquidity versus alternatives. BTC at $70k rebound and 20% client interest noted by CEO Wurster.
What client interest exists in Schwab's crypto offerings?
About 20% of clients show interest per CEO Wurster, driven by ETF inflows as a demand proxy. Beyond ETFs, direct trading targets this demand surge.
Who are the partners in EDX Markets?
EDX is backed by Charles Schwab, Citadel, and Fidelity, focusing on institutional custody and trading.
When is the expected rollout for Schwab's direct crypto trading?
Phased rollout starts Q2 2026 via H1, pending regulatory greenlights. Track adoption, STAX, NNA, and signups from Spring 4/17 onward.
How does a 1% crypto allocation affect portfolios per Schwab?
Schwab notes that even 1% crypto allocation can reshape portfolio risk, depending on investor risk tolerance rather than return forecasts.
What makes Schwab's crypto push significant?
Schwab's $12T AUM positions it to bring massive liquidity to spot BTC/ETH trading for 46M clients, potentially beyond ETFs.
EDX OCC filing; spot BTC/ETH 'Schwab Crypto' waitlist open/live Q2 phased H1 '26 (<50bps); research: 1-8% alloc max/tokenization (BTC/ETH vol spikes); 20% client interest; track adoption/STAX/NNA/signups Spring 4/17+.