Crypto.com Goes Legit! OCC Says “Bank On It!”

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Hold onto your digital wallets, folks! On Monday, Crypto.com announced it’s one step closer to becoming a real, honest-to-goodness bank-well, sort of. The Office of the Comptroller of the Currency (OCC) gave them a conditional nod to charter a national trust bank, because apparently, crypto and federal oversight are now dancing the tango!

Crypto.com: From Moon Shots to Bank Vaults!

Crypto.com proclaimed it’s gotten the green light (with a few asterisks) from the OCC to launch Foris Dax National Trust Bank, aka Crypto.com National Trust Bank. Yes, you heard that right-a crypto company is now knocking on the door of the U.S. banking system. Who said money only grows on trees? It’s going digital, baby!

If all goes according to plan (and the regulators don’t change their minds mid-stream), this new entity will operate as a federally regulated national trust bank. That means Crypto.com can offer custody, staking, and trade settlement services across multiple blockchains-including Cronos. It’s like a Swiss Army knife, but for your digital assets!

CEO Kris Marszalek called this a “compliance-forward milestone,” which is just a fancy way of saying, “We’re playing by the rules now, folks!” He added that this move will help meet institutional demand for a “one-stop-shop qualified custodian under a gold standard of federal oversight.” Translation: We’re legit now, so bring your big bucks!

Crypto.com filed its application back in October 2025, proving that even in the future, bureaucracy moves at a snail’s pace. The conditional approval doesn’t affect their existing Crypto.com Custody Trust Company, which remains under the watchful eye of the New Hampshire Banking Department. So, it’s not a complete takeover-yet.

With this move, Crypto.com joins the exclusive club of crypto firms with OCC trust charters, including Anchorage Digital Bank, Protego Trust Bank, Paxos, Bitgo, Ripple, and Circle. It’s like the cool kids’ table, but with more blockchain and fewer lunch trays.

For the crypto world, the message is clear: federal oversight isn’t just a pipe dream-it’s the new black. Whether this is the start of a trend or just a trickle remains to be seen, but one thing’s for sure: the OCC’s door is slightly ajar, and everyone’s trying to squeeze through.

FAQ 🔎

  • What did Crypto.com get from the OCC?
    Conditional approval to charter Foris Dax National Trust Bank as Crypto.com National Trust Bank. It’s like getting a prom invite, but with more paperwork.
  • What does conditional approval mean?
    They’ve got their foot in the door, but they still need to jump through a few more regulatory hoops before they can fully waltz in.
  • Will this change Crypto.com’s current custody operations?
    Nope! Their New Hampshire-regulated custody services are staying put. Business as usual, folks.
  • Which other crypto firms have OCC trust charters?
    Anchorage Digital Bank, Protego Trust Bank, Paxos, Bitgo, Ripple, and Circle. It’s a small club, but they’ve got the coolest blockchain toys.

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2026-02-24 00:07