Crypto.com disclosed Monday it has secured conditional approval from the Office of the Comptroller of the Currency (OCC) to charter Foris Dax National Trust Bank, which will operate as Crypto.com National Trust Bank. The Singapore-founded exchange is now among a small but growing cohort of crypto firms pushing deeper into federally supervised banking.
What the charter unlocks
If fully approved, the entity will operate as a federally regulated national trust bank under OCC oversight. That designation permits Crypto.com to offer digital asset custody, staking across multiple blockchains — including Cronos — and trade settlement services within a national banking framework. The conditional approval does not yet grant full operational status; the bank must satisfy additional regulatory requirements before launch.
CEO: Compliance milestone meets institutional demand
Chief Executive Officer Kris Marszalek framed the step as a compliance-forward achievement. “This conditional approval is the latest testament to both our commitment to compliance and to providing customers trusted and secure services they expect from Crypto.com,” he said. Marszalek added that the charter would help the company meet institutional demand for a “one-stop-shop qualified custodian under a gold standard of federal oversight.”
Existing custody arm stays untouched
Crypto.com clarified that the conditional approval does not affect its current qualified custodian, Crypto.com Custody Trust Company, which remains regulated by the New Hampshire Banking Department.
Growing list of OCC trust bank holders
Crypto.com joins a short list of crypto-native firms that have secured OCC trust charters, including Anchorage Digital Bank, Protego Trust Bank, Paxos, Bitgo, Ripple, and Circle. The path from conditional approval to full authorization typically involves further regulatory hurdles, yet the OCC's door — while not wide open — is unmistakably ajar.