Singapore-based Crypto.com has secured conditional approval from the US Office of the Comptroller of the Currency (OCC) for a national trust bank charter, announced on February 25, 2026. The firm, which applied in October 2025, joins a wave of cryptocurrency companies pursuing federal oversight for digital asset services like custody and staking.
Crypto.com announced on February 25, 2026, that its subsidiary Foris DAX has received conditional approval from the OCC to establish Foris Dax National Trust Bank, operating under the name Crypto.com National Trust Bank. The application was submitted in October 2025. This limited-purpose, non-depository national trust bank will focus on digital asset custody, staking, and trade settlement, in line with OCC interpretive letter 1176, and requires meeting conditions on capital, governance, and risk controls before full operations.
A Crypto.com spokesperson called it 'a significant milestone in our expansion roadmap in the United States, and furthers our commitment to regulatory compliance at the highest level.' CEO Kris Marszalek added: 'This brings us a major step closer to meeting leading institutions' needs for a one-stop-shop qualified custodian under a gold standard of federal oversight.'
The approval complements Crypto.com's existing Crypto.com Custody Trust Company, regulated by the New Hampshire Banking Department, without impacting its operations.
Founded in 2016, the company offers cryptocurrency exchange, digital wallet, custody, staking, settlement, and DeFi services. It previously secured an electronic money institution license from the UK's Financial Conduct Authority in 2023. Recent expansions include a Stripe partnership for merchant crypto payments and political engagements like donations to Trump's inauguration.
This development reflects a broader surge in conditional OCC charters for crypto firms, including late 2025 approvals for Circle, Ripple, Paxos, BitGo, and Fidelity Digital Assets, plus recent ones for Bridge and Payoneer. Pending bids include Coinbase and others. Analysts note a 'now-or-never' regulatory window, though critics like the Bank Policy Institute warn of blurred bank boundaries and systemic risks.
