Crypto.com Receives Conditional Approval for US Federal Trust Bank Charter to Offer Custody and Staking Services

National Trust Bank Charter Granted to Crypto.com

The long-standing wall between digital assets and federal banking oversight in the United States just became significantly thinner.

Crypto.com announced on 23 February 2026 that it has received conditional approval from the Office of the Comptroller of the Currency (OCC) to establish a national trust bank.

Operating under the name Crypto.com National Trust Bank, the entity, officially chartered as Foris Dax National Trust Bank, is set to function as a federally regulated custodian.

This move allows the firm to step out from the patchwork of state-level regulations and into a unified national framework, though it will not be permitted to handle traditional cash deposits or issue loans.

Why Is Federal Approval A Game Changer For Digital Assets

Securing a national trust bank charter is often described by market analysts as the gold standard for crypto-native firms looking to bridge the gap with traditional finance.

While Crypto.com currently provides custody services through a New Hampshire-regulated entity, a federal charter provides a single, high-level oversight structure that is more attractive to institutional clients like ETF issuers and large-scale asset managers.

This new status will allow the platform to manage and hold client assets, handle trade settlement, and offer staking services across various blockchains, including its own Cronos network, all under the watchful eye of the OCC.

Can Crypto Giants Finally Integrate With Traditional Finance

This shift comes at a time when the regulatory climate in the U.S. has turned noticeably more hospitable toward the industry.

Under the administration of President Donald Trump, regulators have begun rolling back previous enforcement actions and restrictions.

Crypto.com is not alone in this pursuit; it joins a list of industry heavyweights including Circle, Ripple, Paxos, and BitGo, all of whom have received similar conditional nods in recent months.

However, Crypto.com stands out as the only major retail-focused platform on this list, despite its growing institutional footprint.

The firm has also been expanding its reach in other areas, such as its prediction markets platform, which saw its business grow 40 times week on week over a recent six-month period.

Will Political Ties Influence The Future Of Banking Charters

The path to this approval has been paved by significant shifts in policy, specifically the OCC’s May decision regarding bank-held crypto assets and the July signing of the GENIUS Act.

Amidst this backdrop, Crypto.com has maintained a visible presence in political circles.

CEO Kris Marszalek was notably among the first industry leaders to visit Trump at Mar-a-Lago following the 2024 election.

Since then, the exchange has contributed 1 million US dollars to the inauguration committee and made eight-figure donations to the Maga political action committee, including a 5 million US dollar filing in January.

While these ties are clear, the company faces a rigorous road ahead to turn this conditional approval into a final reality.

What Are The Conditions For Final Authorisation

Despite the milestone, the charter is not yet set in stone.

The exchange must now prove it can meet strict federal requirements regarding capital reserves, corporate governance, risk management, and compliance.

Traditional banking groups have already voiced concerns, urging the OCC to maintain high safety standards to protect the broader financial system.

Reflecting on the significance of the progress made so far, Kris Marszalek stated on 23 February 2026,

“This milestone 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.”

He added that the approval is a “testament to both our commitment to compliance and to providing customers trusted and secure services they expect from Crypto.com.”