Crypto.com Receives Conditional Trust Charter Approval

Crypto.com has made significant progress in its efforts to expand its institutional custody services. After applying for a national bank trust charter in October, the company has received conditional approval from the Office of the Comptroller of the Currency (OCC). This approval is subject to full approval before Crypto.com can provide custody services nationwide under OCC supervision.

The trust charter will increase investor confidence by subjecting the safe custody of digital assets to OCC oversight. This development highlights the growing importance of regulatory approvals for companies in the crypto industry. Several other companies, including Circle and Ripple, have also received similar conditional approvals from the OCC in recent months.