Crypto.com said it has secured conditional approval for a national bank trust charter from the US Office of the Comptroller of the Currency, marking a step toward operating as a federally regulated digital asset custodian. The company stated that, once fully approved, the entity would provide custody services for digital asset treasuries, exchange-traded funds, and institutional clients under OCC oversight.
The decision follows a series of conditional approvals granted to other crypto-focused firms, including Circle, Ripple, Paxos, Fidelity Digital Assets, and BitGo, as regulators increasingly formalize oversight pathways for digital asset infrastructure. The approvals indicate a gradual shift toward integrating crypto custody and settlement services into the traditional banking framework.
At the same time, industry groups have urged regulators to proceed cautiously, citing the need for consistent safety and soundness standards, particularly as new stablecoin legislation is implemented. A national trust charter could allow crypto firms to operate across state lines with fewer licensing requirements, potentially strengthening institutional adoption while intensifying competition among regulated custody providers.
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