Crypto.com Secures OCC Approval for US National Trust Bank Charter

Crypto.com just notched a significant regulatory victory by earning conditional approval from the Office of the Comptroller of the Currency for its national trust bank charter. This green light for Foris Dax National Trust Bank, doing business as Crypto.com National Trust Bank, marks a pivotal step toward federally regulated crypto custody in the US. Amid whispers of debanking risks, this development bolsters institutional confidence in secure digital asset storage.

The announcement came on February 23, 2026, following Crypto.com's application filed in October 2025. According to the company's official release, the bank will specialize in custodial services including asset safekeeping, staking across multiple blockchains like Cronos, and efficient trade settlements, all under strict federal oversight from the OCC. This limited-purpose charter avoids deposit-taking or lending, focusing purely on trust functions that institutions crave for compliance. CoinDesk reporting underscores how this unifies Crypto.com's custody operations, previously managed through its New Hampshire-regulated entity. It positions the firm as a comprehensive qualified custodian, appealing to ETF providers and large asset managers seeking streamlined federal compliance. CEO Kris Marszalek framed it as advancing secure, compliant services tailored for sophisticated players. This approval fits a broader pattern in crypto regulation. Reuters notes similar conditional nods for players like BitGo, Circle, Ripple, Paxos, Fidelity Digital Assets in late 2025, and even Stripe's Bridge recently. Forbes highlights the shift toward federal charters for digital asset custody, enhancing credibility and operational efficiency. Crypto.com, founded in 2016, leverages its security track record to lead this charge, potentially setting standards for the industry.

For institutional investors, this upgrade means heightened security and regulatory clarity, likely spurring billions in inflows to compliant custody platforms. It mitigates counterparty risks highlighted in recent debanking discussions, making crypto.com a prime choice for diversified portfolios. Expect accelerated adoption by hedge funds and pensions, fueling overall market infrastructure growth and stability.

Crypto.com's OCC milestone heralds a maturing US crypto ecosystem ready for prime time institutional play. As more charters follow, watch for cascading effects on custody fees and service innovation. Dip buyers take note: this is foundational progress worth betting on long-term.

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