Crypto.com Receives Conditional Approval from OCC for National Trust Bank Charter

WHY THIS MATTERS: The granting of conditional approval by the Office of the Comptroller of the Currency (OCC) to charter a national trust bank represents a seismic shift for the digital assets industry. This event is not simply a win for Crypto.com, but a significant step in the ongoing trend of regulatory clarity being established in the United States. When a prominent crypto firm is willing and able to submit to the “gold standard” of federal oversight, it creates a crucial blueprint for others. More importantly, it directly addresses the persistent security and trust concerns that have inhibited widespread institutional adoption. Operating under the OCC’s purview elevates the security and compliance standards for essential services like trade settlement and staking, transforming them from nascent fintech offerings into federally supervised financial products. For Wall Street firms and major corporate treasuries, a federally chartered entity offering specialized digital asset custody services substantially de-risks their entry into the crypto market, paving the way for massive capital inflows. This move sets a precedent for how mature crypto businesses can, and must, integrate into the traditional financial system.

Crypto.com announced that it has received conditional approval from the Office of the Comptroller of the Currency (OCC) to charter Foris Dax National Trust Bank, d.b.a. Crypto.com National Trust Bank.

With this conditional approval, Crypto.com clears a major milestone in the process to provide its industry-leading custodial services –  including custody, staking of assets across various blockchains and digital asset protocols, including Cronos, and trade settlement – as a federally regulated institution and further establishing Crypto.com as the qualified custodian of choice. Once fully approved, Crypto.com National Trust Bank will operate as a federally regulated national trust bank subject to OCC oversight.

“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,” said Kris Marszalek, Co-Founder and CEO of Crypto.com. “This milestone brings us a major step closer to meeting leading institutions’ needs for a one-stop-shop qualified custodian under a gold standard of federal oversight.”

Crypto.com submitted its application to the OCC in October 2025. Crypto.com continues to be its industry leader in regulatory, compliance, and security licenses and certifications.

This conditional approval has no impact on Crypto.com Custody Trust Company’s continued operations and client services as a Qualified Custodian regulated by the New Hampshire Banking Department as a non-depository trust company.

FF NEWS TAKE: This conditional charter undoubtedly moves the needle by validating the pathway for centralized crypto entities seeking robust federal oversight. It signifies that top-tier compliance is attainable and essential for market leaders. This achievement bolsters Crypto.com’s narrative as the preferred qualified custodian for major institutions. The next critical step to monitor is the transition from conditional status to full operational approval. Once fully supervised, the performance and resilience of this new national trust bank will set the competitive benchmark for all rivals seeking to serve institutional capital