Crypto.com wins conditional approval for US national trust bank license

Crypto.com, a digital asset platform offering trading, custody, and payment services, secured conditional approval from the Office of the Comptroller of the Currency today to pursue a federally chartered national trust bank license.

The approval enables the exchange to provide asset custody and staking under federal supervision rather than navigating a patchwork of state regulators.

“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 chief executive.

The Singapore-based firm applied for the charter in October 2025. Upon full authorization, Foris Dax National Trust Bank will operate under the Crypto.com National Trust Bank name.

The company joins a growing roster of digital asset firms pursuing federal banking status. Bridge obtained conditional approval last week, while Ripple, Circle, BitGo, Fidelity Digital Assets, and Paxos received similar clearances earlier.

A national trust charter places institutions under unified federal oversight and authorizes them to safeguard client funds, potentially exempting holders from certain state-level licensing requirements for custody operations.

The OCC has taken several steps to ease bank involvement in digital assets over the past year. The regulator confirmed that nationally chartered institutions may buy and sell crypto on behalf of customers and withdrew earlier guidance that industry participants viewed as restrictive.