Crypto.com has received conditional approval from the Office of the Comptroller of the Currency (OCC) to charter Foris Dax National Trust Bank, operating under the name Crypto.com National Trust Bank.
The approval, which follows an application submitted to the OCC in October 2025, moves the company closer to offering custodial services as a federally regulated institution. Once fully approved, Crypto.com National Trust Bank will operate under OCC oversight as a nationally chartered trust bank.
Scope of services and regulatory framework
The proposed trust bank is intended to provide custody, staking of assets across various blockchains and digital asset protocols, including Cronos, and trade settlement. Federal chartering through the OCC would place these services under a unified national regulatory framework, distinct from the state-level oversight that currently governs Crypto.com's existing custody entity.
Crypto.com Custody Trust Company, regulated by the New Hampshire Banking Department as a non-depository trust company and operating as a qualified custodian, continues to function independently and is unaffected by the conditional approval.
Kris Marszalek, Co-Founder and CEO of Crypto.com, described the conditional approval as a step towards meeting institutional demand for a qualified custodian operating under federal oversight.
Market and regulatory context
The OCC has the authority to charter national trust banks, which are subject to federal supervision and can operate across state lines without the need for individual state licences. For digital asset firms, a national trust bank charter represents a path to offering institutional-grade custody services within a recognised federal regulatory structure, a consideration that has become increasingly material as institutional participation in digital asset markets grows.
The conditional approval comes at a time of evolving regulatory posture towards digital assets in the US, with several crypto-focused firms pursuing or renewing applications for federal banking licences and charters. Conditional approvals from the OCC typically require the applicant to meet a defined set of conditions before a full charter is granted.
