Key Takeaways
- Crypto.com received conditional approval for a national trust bank charter from the Office of the Comptroller of the Currency.
- The planned entity, Crypto.com National Trust Bank, will focus on custody and fiduciary services without accepting retail deposits or issuing loans.
- If fully approved, the bank will offer digital asset custody services and support staking activities under federal supervision.
- The approval is part of a larger trend, as other digital asset firms also pursue national trust charters in the US.
- Final authorization for Crypto.com depends on meeting regulatory requirements set by the OCC.
Crypto.com has received conditional US approval from the Office of the Comptroller of the Currency. The approval relates to a national trust bank charter. The decision was announced in February 2026. The authorization is not final.
The proposed entity will operate as Crypto.com National Trust Bank. The legal name is Foris Dax National Trust Bank. The institution would be federally regulated if it receives full approval.
What the Conditional Approval Covers
The OCC granted preliminary approval. Crypto.com must meet regulatory requirements before the charter becomes active. The regulator can modify or withdraw the approval during the process.
The bank will follow the national trust bank structure. It will not operate as a traditional commercial bank. It will not accept retail deposits. It will not issue loans.
National trust banks focus on custody and fiduciary services. They operate under federal supervision.
Services Planned Under the Charter
If finalized, the bank will provide digital asset custody services. These services will be offered under OCC oversight. The institution may also support staking activities across blockchain networks.
Trade settlement services are included in the proposal. The structure is designed to serve institutional clients. The charter would support Crypto.com’s goal of operating as a qualified custodian in the United States.
The conditional approval does not affect the company’s existing custody operations in New Hampshire. Current services continue separately.
Industry Context
Crypto.com submitted its application to the OCC in October 2025. Other digital asset firms have sought similar national trust charters. These include Circle, Ripple, BitGo, and Paxos.
The approval represents a regulatory step within the US framework for digital asset custody. Final authorization depends on meeting OCC conditions.
