Crypto.com Advances US Banking Ambitions After OCC Clears Path For National Trust Bank

Cryptocurrency exchange Crypto.com has received conditional approval from the Office of the Comptroller of the Currency (OCC) to establish Foris Dax National Trust Bank, which will operate under the name Crypto.com National Trust Bank.

Crypto.com announced that the OCC has granted conditional approval for the formation of Foris Dax National Trust Bank, to do business as Crypto.com National Trust Bank. The decision represents a significant regulatory development for the company as it moves toward offering custodial services within a federally supervised framework.

The conditional authorization advances Crypto.com’s plans to deliver custody services, asset staking across multiple blockchain networks and digital asset protocols, including Cronos, as well as trade settlement functions under national trust bank status. Upon receiving full approval, the institution would operate as a federally regulated national trust bank subject to OCC oversight, positioning the company to expand services tailored to institutional clients seeking federally supervised custodial solutions.

Kris Marszalek, co-founder and chief executive officer of Crypto.com, stated that the development reflects the company’s focus on regulatory compliance and secure service delivery. He said the approval brings the firm closer to meeting demand from institutions seeking a comprehensive qualified custodian operating under federal standards.

Founded in 2016, Crypto.com reports serving millions of users globally and has emphasized regulatory compliance, security and privacy as central components of its operations. The company has stated that its long-term objective is to promote wider adoption of cryptocurrency through continued development and innovation.

Crypto.com Joins A Roster Of Digital Asset Firms Seeking Federal Trust Bank Status

The company submitted its application to the OCC in October 2025. Although conditional approval does not constitute final authorization, it marks a notable step in the chartering process. Crypto.com indicated that the decision does not affect the ongoing operations of Crypto.com Custody Trust Company, which continues to function as a qualified custodian regulated by the New Hampshire Banking Department as a non-depository trust company.

The move places Crypto.com among several digital asset firms pursuing federal trust bank charters. Companies including Ripple, Circle, Paxos and Fidelity have also obtained conditional approvals for OCC trust bank charters as part of broader efforts to operate within a federal regulatory framework. In addition, BitGo previously secured full OCC approval to convert its state trust company into a nationally chartered trust bank.

The post Crypto.com Advances US Banking Ambitions After OCC Clears Path For National Trust Bank appeared first on Metaverse Post.