OCC grants Crypto.com Early Clearance to Form a Federally Regulated Trust Bank

TLDR

• Crypto.com received conditional approval from the OCC to form a U.S. national trust bank.
• The approval moves the company closer to operating under federal supervision.
• The proposed bank will offer custody, staking, and settlement services under OCC oversight.
• Large institutions may benefit because many require federally regulated custodians.
• Crypto.com will operate the new trust bank alongside its existing New Hampshire entity.

Crypto.com advanced its federal charter plan as the Office of the Comptroller of the Currency granted conditional approval for its proposed national trust bank, and the step moved the company closer to direct oversight under U.S. banking rules. The path now depends on meeting all pending regulatory conditions.

Conditional charter progress for Crypto.com

Crypto.com received the conditional approval after submitting its application to the Office of the Comptroller of the Currency in October 2025, and the review concluded with a multi-stage clearance. The company said the approval “supports the expansion of compliant custody services,” and the process now enters its next phase.
The proposed bank will operate as Foris Dax National Trust Bank under the charter and will later use its approved name once fully licensed. The entity will offer custody, staking across multiple chains, and trade settlement under federal rules.

Crypto.com plans to include Cronos support in the platform and will add more networks as requirements evolve. The company also expects the structure to help institutions access regulated digital asset services.

The charter allows a national trust bank to engage in custody activity, and it operates without deposit functions under OCC oversight. The approval confirms that the regulators will continue reviewing controls, capital, and governance.

Large institutions face strict thresholds for qualified custodians, and the federal charter aligns with those requirements. The company expects interest from asset managers once the entity completes the licensing stage.

Institutions seek clear rules, and a national trust bank structure applies uniform standards across states. The new charter framework offers a single supervisory authority rather than multiple state agencies.

Crypto.com already runs a trust entity in New Hampshire under state oversight, and that business continues unchanged. The planned national trust bank will operate beside it under separate approvals.

The company intends to reorganize some services under federal oversight once the charter becomes active. However, each operational change will still require review by the regulators.

Compliance steps before operational launch

The conditional approval requires the company to meet additional compliance and capital obligations before operating. The OCC will review updated plans and systems before issuing full authorization.
The regulators stated that final approval will follow after all conditions are verified, and their review process often involves several rounds of checks.

Crypto.com must submit revised documentation covering governance, risk controls, and operational readiness. The company will also complete staffing and oversight requirements.

The OCC will monitor progress through scheduled reporting. Each stage must satisfy the charter conditions before activation.

The company has also strengthened its presence in Europe with an MiFID license under a supervised framework. That license operates separately from the U.S. charter process.

Regulators rarely speed approvals, and the OCC process continues through several phases. The company expects to address each requirement as directed.

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