Crypto.com Joins Ripple in Winning Conditional OCC Approval for Trust Bank Charter
Crypto.com has secured conditional approval from the Office of the Comptroller of the Currency (OCC) to constitution a nationwide belief financial institution.
With this transfer, the cryptocurrency alternate and monetary providers platform joins a rising record of digital asset companies that acquired related approvals final 12 months.
Crypto.com Secures Conditional OCC Approval for National Trust Bank Charter
As previously reported by BeInCrypto, Crypto.com utilized for a nationwide belief financial institution constitution in October 2025. The OCC granted conditional approval in February 2026, marking a major milestone for the corporate.
It’s value noting that conditional approval represents a preliminary stage in the chartering course of. The applicant should fulfill the OCC’s regulatory and operational necessities earlier than acquiring full approval.
“Crypto.com right now introduced that it has acquired conditional approval from the Office of the Comptroller of the Currency (OCC) to constitution Foris Dax National Trust Bank, d.b.a. Crypto.com National Trust Bank,” the announcement learn.
Crypto.com emphasised that the approval doesn’t have an effect on the continuing operations of Crypto.com Custody Trust Company. That entity will proceed to function as a professional custodian regulated by the New Hampshire Banking Department as a non-depository belief firm.
“This conditional approval is the newest testomony to each our dedication to compliance and to offering clients trusted and safe providers they count on from Crypto.com. This milestone brings us a serious step nearer to assembly main establishments’ wants for a one-stop-shop certified custodian below a gold commonplace of federal oversight,” said Kris Marszalek, Co-Founder and CEO of Crypto.com.
Firms such as Ripple, Circle, Paxos, and Fidelity Investments additionally acquired conditional approval for their nationwide belief financial institution constitution purposes in December 2025. Meanwhile, BitGo went a step additional, securing full approval from the OCC late final 12 months to transform its state belief firm right into a nationwide belief financial institution.
In addition, Trump-backed DeFi challenge World Liberty Financial’s subsidiary submitted its utility to the OCC in January to establish World Liberty Trust Company, National Association (WLTC). The proposed establishment would operate as a nationwide belief financial institution structured to facilitate stablecoin-focused actions.
The transfer by cryptocurrency companies into federally chartered banking constructions displays deeper integration of digital asset companies into the US monetary regulatory framework. A nationwide belief constitution offers federal authorized standing, enhances custody capabilities, and should strengthen institutional credibility. Operating below OCC supervision centralizes oversight on the federal stage.
However, this development has also raised concerns. The American Bankers Association (ABA) and the Independent Community Bankers of America (ICBA) have pushed again in opposition to the OCC granting conditional approvals. They warn that broadening crypto charters might blur the boundaries of US banking and create new challenges.
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