Crypto.com announced Monday it has received conditional approval from the Office of the Comptroller of the Currency (OCC) for a national trust bank charter. This development positions the digital assets firm to become a federally regulated custodian.
The charter will enable Crypto.com to manage and hold client assets, along with handling trade settlement within a federally regulated framework. However, it does not permit cash deposits or loan sanctions.
Upon full approval, Crypto.com will operate as a federally regulated national trust bank under OCC oversight. Analysts note that such a charter is crucial for crypto-native firms aiming to attract institutional clients and enhance integration with the traditional financial system.