NEW YORK, Feb. 23 (GeokHub) — Digital asset exchange Crypto.com said Monday it has received conditional approval from the Office of the Comptroller of the Currency (OCC) for a national trust bank charter, marking a significant step toward becoming a federally regulated crypto custodian.
The approval would allow Crypto.com to manage and safeguard client assets, as well as handle trade settlement within a regulated banking framework. However, the charter does not authorize the company to accept cash deposits or issue loans.
Once fully approved, Crypto.com would operate as a federally regulated national trust bank under OCC supervision.
Regulatory Shift Under Trump Administration
The development comes amid a more crypto-friendly regulatory approach under President Donald Trump. U.S. regulators have recently eased certain restrictions and enforcement actions that previously created uncertainty for digital asset firms.
Analysts say securing a national trust bank charter is a critical milestone for crypto-native companies seeking deeper integration with traditional financial systems and greater credibility among institutional investors.
The charter structure offers regulatory clarity, improved compliance standards, and stronger safeguards for client asset custody — factors that are particularly important for attracting large financial institutions.
Founded in 2016, Crypto.com has grown into one of the industry’s prominent exchanges, listing more than 400 digital tokens on its platform.
Becoming a federally regulated trust bank could enhance its ability to serve institutional clients, including hedge funds, asset managers, and corporations exploring digital asset exposure.
Industry observers note that federally supervised custodianship is often viewed as a prerequisite for broader adoption of cryptocurrencies within mainstream finance.
