Crypto.com wins OCC approval for federally regulated crypto custodian bank

Crypto.com has secured conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish Foris Dax National Trust Bank, which will operate as Crypto.com National Trust Bank. This limited-purpose national trust bank will offer custody, staking, and trade settlement services for digital assets under a single federal regulatory framework, consolidating its existing custody services currently regulated by New Hampshire.

Crucially, the bank will not accept deposits or issue loans. This federal charter is highly attractive to institutional clients like ETF issuers and asset managers who prefer national oversight for streamlined compliance. While this conditional approval is a major step, it is not final. Crypto.com joins other firms, including BitGo, Circle, Ripple, Paxos, and Fidelity Digital Assets, which have recently received similar conditional approvals to build within the federal regulatory structure.

(Source：CoinDesk)