Crypto.com Secures Key Regulatory Approval for National Trust Bank Charter

Crypto.com has made significant progress in its effort to establish itself as a leading player in the institutional digital asset market. The company received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) on Monday to charter a federally regulated national trust bank, a move that will bring its custody and digital asset services under federal oversight.

The OCC's approval is a major milestone for Crypto.com as it marks a key step in the company's effort to provide institutional digital asset custody under a single U.S. regulatory framework. This move will enable Crypto.com to offer federally regulated custody, staking across multiple blockchains, including its Cronos network, and trade settlement services under a national trust structure.

The OCC charter focuses on trust services rather than traditional banking activities such as deposits or lending. The approval reflects a broader trend of national trust bank charters for crypto and fintech firms, with several similar conditional approvals having been granted in recent months.