Crypto.com gains conditional approval for trust bank charter

Global cryptocurrency platform Crypto.com has received conditional approval from the Office of the Comptroller of the Currency to launch a federally regulated trust bank in the United States.

Summary

• Crypto.com received conditional approval from the OCC to form a national trust bank focused on digital asset custody.
• The bank will offer regulated custody, staking, and settlement services but will not accept deposits or issue loans.
• The move reflects a wider industry push toward federal oversight and institutional-grade crypto infrastructure.

With this approval, announced on Feb. 13, the company can move ahead with its plan to establish Foris Dax National Trust Bank Once fully authorized, the entity will operate under the name Crypto.com National Trust Bank

The bank will mainly focus on providing institutional and corporate clients with trade settlement services, multi-chain staking, and digital asset custody

Path toward federal oversight and institutional custody

Crypto.com initially applied for the charter in October 2025. To meet the operational, governance, and capital requirements necessary for a national trust bank, the company has since collaborated closely with regulators.

Before it can begin full operations, Crypto.com must satisfy several pre-opening conditions tied to the approval. These include finalizing its risk management systems, enhancing internal controls, and confirming that its compliance frameworks are fully in place.

Once approved, the trust bank will not operate like a traditional commercial bank. It will not accept cash deposits or issue consumer loans. Instead, it will serve as a qualified custodian, offering regulated storage and management of digital assets for institutional investors.

The planned services include custody of cryptocurrencies, staking across multiple blockchains, and settlement infrastructure. This includes support for Crypto.com’s own Cronos network alongside other major digital asset protocols.

The company said its existing custody business in New Hampshire will continue operating without disruption during this transition.

Leadership response and broader industry trend

Commenting on the development, CEO Kris Marszalek said the approval reflects the company’s long-term focus on compliance and security. He added that the charter brings Crypto.com closer to becoming a “one-stop shop” custodian for institutions seeking federal oversight.

The decision puts Crypto.com alongside a growing list of crypto firms seeking national trust bank status. Companies including Circle, Ripple, Paxos, and Fidelity Digital Assets have already received conditional or full approval for similar structures.

According to analysts, this change is a reaction to the growing institutional demand for regulated custody. Large investors are favoring platforms that adhere to federal regulations as U.S. regulations become more transparent.

Under OCC oversight, Crypto.com plans to lower counterparty risk, improve transparency, and appeal to traditional financial institutions that require qualified custodians.

If the charter is finalized, the company would gain nationwide coverage without depending on multiple state licenses. Compliance would be streamlined, and its institutional presence would expand.