Crypto.com has gained conditional approval from the Office of the Comptroller of the Currency (OCC) to establish Foris Dax National Trust Bank, which will operate as Crypto.com National Trust Bank.
Following an application submitted in October 2025, this approval advances the company’s goal of providing regulated custodial services. Once fully approved, Crypto.com National Trust Bank will be subject to OCC oversight as a nationally chartered trust bank.
Purpose and Regulatory Context
The proposed trust bank aims to offer custody services, including staking across various blockchains and digital asset protocols such as Cronos, and trade settlement. The federal chartering process through the OCC would subject these services to a unified national regulatory framework, separate from the current state-level oversight of Crypto.com Custody Trust Company.
Crypto.com Custody Trust Company, regulated by New Hampshire’s Banking Department as a non-depository trust company and operating as a qualified custodian, continues to function independently and is not impacted by the conditional approval.
Kris Marszalek, Co-Founder and CEO of Crypto.com, views this conditional approval as a significant step toward fulfilling institutional demand for a federal regulatory framework that ensures reliable custodial services.
Industry Context
The OCC’s authority to charter national trust banks allows these institutions to operate across state lines under federal supervision without the need for individual state licenses. For digital asset firms, obtaining such a national trust bank charter is seen as essential for offering institutional-grade custody services within a recognized federal regulatory structure.
This conditional approval reflects ongoing developments in US regulations regarding digital assets, with several crypto-focused companies currently pursuing or renewing their applications for federal banking charters and licenses. Conditional approvals from the OCC often come with specific conditions that must be met before full charter issuance.
