On Monday, Crypto.com disclosed that it has secured conditional approval from the Office of the Comptroller of the Currency to charter a national trust bank, marking another crypto firm inching deeper into the U.S. banking system.
Digital Asset Firm Crypto.com Wins Conditional OCC Approval for National Trust Bank Charter
Crypto.com announced Monday it received conditional approval from the Office of the Comptroller of the Currency (OCC) to charter Foris Dax National Trust Bank, which will operate as Crypto.com National Trust Bank. The decision places the Singapore-founded exchange among a small but growing group of crypto firms edging into federally supervised banking.
If fully approved, the entity will operate as a federally regulated national trust bank under OCC oversight. That designation would allow Crypto.com to provide custody, staking across multiple blockchains — including Cronos — and trade settlement services under a national banking framework.
Chief Executive Officer Kris Marszalek framed the move as a compliance-forward milestone. “This conditional approval is the latest testament to both our commitment to compliance and to providing customers trusted and secure services they expect from Crypto.com,” Marszalek said. He added that the charter would help the company meet institutional demand for a “one-stop-shop qualified custodian under a gold standard of federal oversight.”
Crypto.com submitted its application in October 2025. The conditional approval does not affect Crypto.com Custody Trust Company, which continues operating as a qualified custodian regulated by the New Hampshire Banking Department.
Crypto.com now joins a short list of crypto-native firms that have secured OCC trust charters, including Anchorage Digital Bank, Protego Trust Bank, Paxos, Bitgo, Ripple, and Circle. The list is selective, and the path from conditional approval to full operational status can involve additional regulatory hurdles.
For the broader crypto sector, the message is clear: federal oversight is no longer a distant aspiration but an active pursuit. Whether this signals a wave of similar approvals or a tightly controlled trickle remains to be seen, but the OCC’s door — while not wide open — is unmistakably ajar.
FAQ 🔎
- What did Crypto.com receive from the OCC?
Conditional approval to charter Foris Dax National Trust Bank as Crypto.com National Trust Bank. - What does conditional approval mean?
The bank must meet additional regulatory requirements before receiving full authorization to operate. - Will this change Crypto.com’s current custody operations?
No, existing custody services under its New Hampshire-regulated entity remain unaffected. - Which other crypto firms have OCC trust charters?
Anchorage Digital Bank, Protego Trust Bank, Paxos, Bitgo, Ripple and Circle have received similar approvals.