Crypto.com Secures OCC Conditional Approval for US National Trust Bank Charter

TLDR

• Crypto.com gets conditional OCC nod, pushing its national trust bank plan.
• OCC clears Crypto.com’s trust bank bid, boosting federal custody ambitions.
• Crypto.com moves closer to OCC-supervised custody, staking and settlement.
• Conditional OCC approval signals faster momentum for US crypto trust charters.
• Crypto.com’s trust bank bid advances as OCC ramps digital-asset reviews.

Crypto.com advanced its federal expansion after the OCC granted conditional approval for its proposed national trust bank charter. The approval marked a significant regulatory step as the exchange prepared to operate custodial services under federal oversight. The development also signaled continued movement by the OCC on multiple crypto-related charter applications.

Crypto.com National Trust Bank Process Moves Forward

Crypto.com progressed toward establishing Foris Dax National Trust Bank as the OCC confirmed the conditional status of the application. The company positioned the planned entity to offer custody, staking, and settlement services across supported networks. The new structure aimed to operate under direct OCC supervision once fully approved.

The firm submitted its charter request to the OCC in October 2025, and the regulator maintained its review schedule throughout 2026. The exchange continued strengthening compliance programs as federal oversight requirements increased across digital asset operations. Additionally, Crypto.com stated that its existing New Hampshire-regulated trust entity would continue services without any operational change.

The OCC’s conditional approval reflected broader federal engagement with digital asset charters following multiple recent decisions. The regulator issued similar preliminary approvals for Circle, Ripple, BitGo, Fidelity Digital Assets, and Paxos in recent months. These actions underscored the OCC’s increasing role in shaping national crypto custody standards.

Industry Context and Ongoing Regulatory Pressure

The banking sector responded to the OCC’s pace with calls for stricter review procedures. The American Bankers Association urged extended evaluation timelines as the federal stablecoin framework under the GENIUS Act entered its rollout phase. Moreover, the group emphasized the need for consistent safety and soundness standards across all digital asset charter applications.

Legal analysts noted that a national charter could exempt Crypto.com from many state-level licensing requirements. This exemption aligned with similar conditions granted to other nationally chartered trust entities under the OCC’s authority. Federally chartered firms could streamline multistate operations during service expansion.

The OCC also continued reviewing additional applications, including one from World Liberty Financial. The company behind the USD1 stablecoin sought authority to issue and custody the asset directly. The application attracted political attention, and debate increased regarding the neutrality of the evaluation process.

Broader Implications for the US Digital Asset Framework

Crypto.com’s conditional approval added momentum to federal oversight developments as the OCC expanded its digital asset review activity. The decision positioned the exchange to pursue wider institutional engagement through a consolidated federal structure. The move reflected a shifting environment in which national trust charters gained strategic relevance.

Federal agencies continued shaping the regulatory landscape, and market participants adjusted to evolving requirements. The OCC appeared prepared to review additional digital asset applications as pressure grew for uniform national standards. As a result, companies seeking regulated custodial roles continued adapting their compliance frameworks to meet future obligations.

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