Crypto.com secures US trust bank approval

Crypto.com has received conditional approval from the US Office of the Comptroller of the Currency (OCC) for a national trust bank charter, according to a company statement.

The approval would enable Crypto.com to operate as a federally regulated custodian, managing and holding client assets, and facilitating trade settlement, but not offering cash deposits or loans.

The firm said that full approval would allow it to function as a national trust bank under OCC oversight.

Industry analysts view a national trust bank charter as important for crypto companies seeking to attract institutional clients and deepen integration with traditional finance.

Crypto.com, founded in 2016, offers a platform with over 400 tokens listed.

The approval process aligns with a broader shift toward a more crypto-friendly stance by US regulators.

🔗 Source: Reuters

🧠 Food for thought

Implications, context, and why it matters.

Conditional OCC approval fits a broader regulatory pattern

Crypto.com’s conditional approval follows other conditional national trust bank charter approvals given to several digital asset firms in late 2025 1.
The SEC closed its investigation into the company without enforcement action in March 2025 2.
Crypto.com already runs Crypto.com Custody Trust Company, a qualified custodian regulated by the New Hampshire Banking Department as a non-depository trust company (a trust entity that can safeguard assets but does not take bank deposits). The OCC charter would extend that model at the federal level 3.
The approval lands during a US policy shift under the Trump administration that has been described as more crypto-friendly, alongside stablecoin legislation such as the GENIUS Act (a federal law focused on rules for stablecoins—crypto tokens typically designed to hold a steady value) 4.

A federal charter can help custody, while state rules still apply elsewhere

A national trust bank charter can help attract institutional clients and support custody tied to crypto exchange-traded products (ETPs), which trade on exchanges and can give investors exposure to crypto, plus other institutional use cases 5.
The charter would not allow cash deposits or lending. It also does not remove state-level compliance duties where they apply 5.
State enforcement can still bite. California regulators fined crypto lender Nexo Capital Inc. $500,000 for unlicensed lending 6.
Many firms end up on two tracks. They use federal structures for trust and custody, while managing state licensing and enforcement for other regulated activities such as lending or, depending on the business model, money transmission (services that move money for consumers or businesses) 6.