Global cryptocurrency platform Crypto.com has received conditional approval from the Office of the Comptroller of the Currency to launch a federally regulated trust bank in the United States.

With this approval, announced on Feb. 13, the company can move ahead with its plan to establish Foris Dax National Trust Bank. Once fully authorized, the entity will operate under the name Crypto.com National Trust Bank. 

Path toward federal oversight and institutional custody

Crypto.com initially applied for the charter in October 2025. To meet the operational, governance, and capital requirements necessary for a national trust bank, the company has since collaborated closely with regulators.

Before it can begin full operations, Crypto.com must satisfy several pre-opening conditions tied to the approval. These include finalizing its risk management systems, enhancing internal controls, and confirming that its compliance frameworks are fully in place.

The company said its existing custody business in New Hampshire will continue operating without disruption during this transition.

Leadership response and broader industry trend

Commenting on the development, CEO Kris Marszalek said the approval reflects the company’s long-term focus on compliance and security. He added that the charter brings Crypto.com closer to becoming a “one-stop shop” custodian for institutions seeking federal oversight.

The decision puts Crypto.com alongside a growing list of crypto firms seeking national trust bank status. Companies including Circle, Ripple, Paxos, and Fidelity Digital Assets have already received conditional or full approval for similar structures.

If the charter is finalized, the company would gain nationwide coverage without depending on multiple state licenses. Compliance would be streamlined, and its institutional presence would expand.

View sources >>  Crypto.com secures conditional OCC approval for national trust bank charter