Crypto.com bank national trust charter wins OCC conditional approval in the US

The OCC has granted a key regulatory green light as Crypto.com bank moves closer to operating a federally supervised national trust institution in the United States.

OCC grants conditional approval for national trust bank charter

On February 23, 2026, Crypto.com announced it received conditional approval from the Office of the Comptroller of the Currency (OCC) to charter Foris Dax National Trust Bank, doing business as Crypto.com National Trust Bank.

With this preliminary decision, the company clears a major milestone toward operating as a federally regulated national trust institution. Moreover, the charter would place Crypto.com National Trust Bank directly under ongoing OCC oversight once fully approved.

The conditional approval allows the group to advance its plans but does not yet authorize full-scale banking operations. However, it lays the regulatory foundation for a future trust bank structure purpose-built for digital asset services.

Expansion of custodial, staking, and settlement capabilities

Through the planned trust bank, Crypto.com aims to deliver its existing custodial services under a national framework, including custody trade settlement, staking, and support for assets across multiple blockchains.

The institution is expected to cover a broad set of digital asset protocols, including the Cronos ecosystem, while providing institutional-grade safekeeping and transaction support. Moreover, the trust structure is designed to reinforce risk management and segregation of client assets under a clear US regulatory regime.

Once fully authorized, Crypto.com National Trust Bank will operate as a federally regulated national trust bank and seek to position itself as a qualified custodian of choice for institutional and sophisticated clients.

Institutional focus and qualified custodian positioning

Kris Marszalek, Co-Founder and CEO of Crypto.com, described the decision as a significant validation of the firm’s regulatory-first strategy and institutional ambition.

“This conditional approval is the latest testament to both our commitment to compliance and to providing customers trusted and secure services they expect from Crypto.com,” Marszalek said. Moreover, he framed the charter initiative as key to building a comprehensive institutional platform in the United States.

According to Marszalek, this milestone moves the company “a major step closer to meeting leading institutions’ needs for a one-stop-shop qualified custodian under a gold standard of federal oversight.” That said, the bank must still satisfy final OCC conditions before beginning full operations.

Regulatory application timeline and licenses

Crypto.com submitted its application for the national trust bank charter to the OCC in October 2025. The conditional approval marks a pivotal stage in that review, reflecting the regulator’s preliminary comfort with the firm’s business model and governance plan.

The company emphasizes that it remains a leader in crypto regulatory compliance, security, and licensing across multiple jurisdictions. Moreover, its growing portfolio of approvals and certifications is central to its effort to serve institutional investors that require robust oversight.

The pursuit of an OCC-chartered national trust bank also aligns with broader market demand for federally regulated custodian structures dedicated to digital assets, particularly among US-based financial institutions.

Impact on existing Crypto.com custody operations

The newly granted conditional approval does not change current operations of Crypto.com Custody Trust Company, which continues to act as a Qualified Custodian subject to oversight by the New Hampshire Banking Department.

That entity is regulated as a non-depository trust company and will keep serving clients under its existing framework. However, the future national trust bank would add a parallel federally supervised custodial option to the firm’s structure.

This dual framework could, over time, give institutional clients flexibility in choosing between state-regulated and nationally regulated custody arrangements, depending on their internal policies and risk considerations.

Background on Crypto.com and strategic vision

Founded in 2016, Crypto.com has grown into a global platform used by millions of customers, offering trading, payments, and digital asset services. Moreover, the company has made security, privacy, and compliance central pillars of its expansion strategy.

Its stated vision is “Cryptocurrency in Every Wallet” and the firm continues to pursue that goal through ongoing product innovation and regulatory engagement. The move toward a national trust charter is positioned as a natural evolution of that long-term strategy.

That said, the final scope and timing of the bank’s launch will depend on satisfying the OCC’s conditions and demonstrating continued adherence to supervisory expectations.

Outlook for Crypto.com National Trust Bank

The conditional charter approval serves as a key step toward establishing Crypto.com National Trust Bank as a fully operational institution under federal oversight. However, the company will need to complete additional regulatory milestones before it can open for business.

As the process advances, Crypto.com aims to reinforce its reputation as a trusted provider of institutional-grade digital asset services in the US market. Moreover, the combination of existing trust operations and the prospective national charter could further strengthen its competitive position.

In summary, the OCC’s decision marks a major regulatory achievement for Crypto.com bank while signaling increasing alignment between established financial rules and the rapidly evolving digital asset sector.