Crypto.com, known for its diverse digital asset services, has received conditional approval from the Office of the Comptroller of the Currency. This approval allows the platform to seek a federally chartered national trust bank license. By achieving this milestone, Crypto.com can offer asset custody and staking operations that fall under stringent federal regulations, streamlining their compliance process and enhancing customer trust.
The Singapore-based company submitted its application for this charter back in October 2025. Once fully authorized, it will operate as Foris Dax National Trust Bank under the Crypto.com brand.
Why is federal oversight important for cryptocurrency firms? With a national trust charter, institutions are subject to consistent federal supervision, which can simplify regulatory requirements. This oversight helps to protect client funds and can exempt the bank from various state-specific licensing conditions.
The OCC has actively worked to facilitate the involvement of banks in digital assets over the last year. They have affirmed that federally chartered institutions are allowed to engage in crypto trading on behalf of clients and have discarded prior guidelines that industry stakeholders considered overly restrictive. Other companies, like Bridge, Ripple, Circle, BitGo, Fidelity Digital Assets, and Paxos, are also pursuing or have received similar federal banking approvals.
Moving forward, this regulatory shift could mean significant progress for the digital asset industry, which is increasingly gravitating towards stable, federally regulated financial services. It empowers customers with greater assurance in their transactions and encourages higher standards across the sector.