Crypto.com Secures Conditional OCC Trust Bank Approval

Crypto.com has secured conditional approval from the Office of the Comptroller of the Currency (OCC) to charter a national trust bank.

With this move, the cryptocurrency exchange and financial services platform joins a growing list of digital asset firms that received similar approvals last year.

As previously reported by BeInCrypto, Crypto.com applied for a national trust bank charter in October 2025. The OCC granted conditional approval in February 2026, marking a significant milestone for the company.

It’s worth noting that conditional approval represents a preliminary stage in the chartering process. The applicant must satisfy the OCC’s regulatory and operational requirements before obtaining full approval.

Crypto.com emphasized that the approval does not affect the ongoing operations of Crypto.com Custody Trust Company. That entity will continue to operate as a qualified custodian regulated by the New Hampshire Banking Department as a non-depository trust company.

Firms such as Ripple, Circle, Paxos, and Fidelity Investments also received conditional approval for their national trust bank charter applications in December 2025. Meanwhile, BitGo went a step further, securing full approval from the OCC late last year to convert its state trust company into a national trust bank.

In addition, Trump-backed DeFi project World Liberty Financial’s subsidiary submitted its application to the OCC in January to establish World Liberty Trust Company, National Association (WLTC). The proposed institution would function as a national trust bank structured to facilitate stablecoin-focused activities.

The move by cryptocurrency firms into federally chartered banking structures reflects deeper integration of digital asset companies into the US financial regulatory framework. A national trust charter provides federal legal status, enhances custody capabilities, and may strengthen institutional credibility. Operating under OCC supervision centralizes oversight at the federal level.

However, this trend has also raised concerns. The American Bankers Association (ABA) and the Independent Community Bankers of America (ICBA) have pushed back against the OCC granting conditional approvals. They warn that broadening crypto charters may blur the boundaries of US banking and create new challenges.