Crypto.com seeks OCC federal charter, joining Coinbase, Ripple, and others
Crypto.com has applied to the U.S. OCC for a national trust bank charter to enhance its custody and staking services.Summary
Singapore-based cryptocurrency exchange Crypto.com announced it has applied to the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter. The exchange seeks this federal license to advance its industry-leading custody technology and related customer offerings, including custody and staking of assets across various blockchains, such as its Cronos Layer 1 chain. Crypto.com joins other major crypto firms pursuing similar federal charters, including Coinbase, Ripple, Circle, Paxos, and Stripe-owned Bridge. The firm hopes the charter will solidify its position as a preferred custody service destination for institutional investors, Digital Asset Treasuries, and ETFs. This move comes as Crypto.com has recently surpassed Coinbase in monthly trading volume. The OCC, now led by Jonathan Gould, has also recently granted preliminary approval to Erebor Bank, a crypto-focused startup backed by Peter Thiel.
(Source：The Block)