Crypto.com Files Application for US Bank Charter
Crypto.com has applied to the OCC for a National Trust Bank Charter primarily to expand its custody business, not to operate as a traditional bank.Summary
Crypto.com has submitted an application to the Office of the Comptroller of the Currency (OCC) seeking a National Trust Bank Charter. The company clarified that it does not intend to function as a traditional bank but rather aims to significantly enhance its custody business and related services. CEO Kris Marszalek stated this step is part of their focus on regulated and secure offerings. Gaining federal regulatory approval is expected to make Crypto.com a more attractive custody solution for institutional investors, including digital asset treasury firms and ETFs, potentially enabling new services like staking across various blockchains. This move follows similar applications by other crypto firms like Ripple and Coinbase, occurring during a period where the OCC has shown increased openness to digital asset custody services under the current administration.
(Source：BeInCrypto)