Crypto.com Wins Conditional Approval for National Trust Bank Charter, Expanding Crypto-Banking Capabilities

Crypto.com, the global cryptocurrency exchange and fintech platform, has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to operate as a national trust bank. This milestone marks a significant step for the company’s strategy to integrate regulated banking services with digital asset products — enabling Crypto.com to offer a broader suite of financial services under a charter recognised by U.S. federal regulators.

The conditional approval allows Crypto.com to pursue a full national trust bank charter, subject to satisfying specific supervisory conditions and meeting capital, compliance and governance requirements laid out by the OCC. If successful, the charter will permit Crypto.com to provide regulated banking services such as custodial accounts, fiduciary services, payment settlement and other trust functions in addition to its existing crypto exchange, wallet and payments offerings.

This development reflects a broader trend of crypto platforms seeking bank charters to deepen regulatory alignment and expand product offerings, bridging the worlds of traditional finance and digital assets while meeting institutional and retail demand for regulated, secure financial infrastructure.

Key Highlights

• Conditional bank charter approval: Crypto.com has received conditional approval from the OCC for a national trust bank charter.
• Expanded financial services: The charter enables regulated activities like custodial services, payments settlement and trust functions once conditions are met.
• Regulatory oversight: Subject to OCC supervision and compliance with capital, risk and governance requirements.
• Bridging crypto and banking: The move strengthens Crypto.com’s ability to integrate regulated banking with digital asset services.
• Trend in crypto finance: Follows other fintechs and crypto firms seeking bank charters to enhance legitimacy and product scope.
• Institutional readiness: Approval positions Crypto.com to compete more directly with banks and regulated fintechs in custody and payments.

Why This Matters

1. Regulated Banking Meets Digital Assets

A national trust bank charter under the OCC enables crypto platforms to offer services traditionally reserved for federally regulated banks — such as custodial services, payment settling and trust administration — but in the context of digital asset holdings. This can enhance investor confidence, compliance readiness and product scope for Crypto.com’s enterprise and retail clients.

2. Strengthening Institutional and Retail Trust

Conditional approval signals regulatory confidence in Crypto.com’s governance, risk management and operational maturity. For institutional investors and regulated counterparties, an OCC-regulated trust bank can offer greater legal clarity, supervisory oversight, and protections compared to unregulated entities.

3. Strategic Growth in Financial Services

With a trust bank charter, Crypto.com can potentially enhance or offer:

• Federally regulated custodial accounts for crypto and fiat
• Payment and settlement services across rails
• Fiduciary and trust services for structured products
• Integrated digital wallet and banking products
• Potential lending and deposit facilities under regulated oversight

This expands the platform’s service ecosystem beyond exchange trading into core financial infrastructure.

What a National Trust Bank Charter Allows

A national trust bank charter — distinct from a full commercial banking charter — permits institutions to engage in trust, fiduciary and custodial activities, and often includes:

• Custody of assets for clients
• Settlement services and payment processing
• Trust and fiduciary services for institutional and retail clients
• Cash management and treasury functions consistent with regulatory safeguards

Conditional approval means Crypto.com must meet supervisory conditions (capital levels, compliance frameworks, governance structures, risk management controls, anti-money laundering programs and internal audit readiness) before the charter is fully granted.

Regulatory and Industry Context

Crypto platforms increasingly pursue bank charters to enhance legitimacy, reduce reliance on third-party banking partners, and bring regulated services in-house. Examples include Block/Spiral, SoFi and Stripe’s Bridge in recent years, each seeking various bank charter types to support deposits, payments and financial products.

The OCC — as the US federal regulator for national banks and federal savings associations — has been open to conditional chartering for non-traditional financial institutions that meet robust safety, soundness and consumer protection standards. Crypto.com’s progress reflects broader regulatory engagement with crypto firms that can satisfy banking supervision expectations while managing digital asset risk.

Analysts see the move as part of an evolution toward convergence between regulated banking and digital asset services, offering customers regulated pathways for custody, payments and financial products underpinned by blockchain innovations.

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