Crypto.com has received conditional approval for a national bank trust charter from the Office of the Comptroller of the Currency (OCC), marking another step in the gradual integration of digital asset firms into the U.S. banking framework.
The exchange said that once final approval is secured, the federally regulated trust entity would operate as a qualified custodian across the United States under OCC supervision. Crypto.com initially submitted its application in October, outlining plans to provide custody services for digital asset treasuries, exchange-traded funds and institutional clients.
Chief executive Kris Marszalek described the conditional approval as validation of the company’s compliance efforts and long-term commitment to operating within established regulatory standards.
Wave of Crypto Trust Charter Applications
The OCC has recently signaled a more open stance toward digital asset firms. In prior months, conditional approvals were granted to companies including Circle, Ripple and Fidelity Digital Assets, while Coinbase continues to await a decision on its own application.
National trust charters can offer advantages, including exemption from many state level money transmission licenses, though banking groups have urged regulators to proceed cautiously until stablecoin rules under the GENIUS Act are fully implemented.
Separately, World Liberty Financial has applied for a similar charter, drawing attention due to its political connections. The review process, overseen by the OCC, is expected to face close scrutiny as regulators balance innovation with financial stability safeguards.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.