Crypto.com has secured conditional approval from the Workplace of the Comptroller of the Forex (OCC) to constitution a nationwide belief financial institution.
With this transfer, the cryptocurrency trade and monetary companies platform joins a rising record of digital asset companies that obtained comparable approvals final 12 months.
As beforehand reported by BeInCrypto, Crypto.com utilized for a nationwide belief financial institution constitution in October 2025. The OCC granted conditional approval in February 2026, marking a major milestone for the corporate.
It’s price noting that conditional approval represents a preliminary stage within the chartering course of. The applicant should fulfill the OCC’s regulatory and operational necessities earlier than acquiring full approval.
“Crypto.com today announced that it has received conditional approval from the Office of the Comptroller of the Currency (OCC) to charter Foris Dax National Trust Bank, d.b.a. Crypto.com National Trust Bank,” the announcement learn.
Crypto.com emphasised that the approval doesn’t have an effect on the continuing operations of Crypto.com Custody Belief Firm. That entity will proceed to function as a professional custodian regulated by the New Hampshire Banking Division as a non-depository belief firm.
“This conditional approval is the latest testament to both our commitment to compliance and to providing customers trusted and secure services they expect from Crypto.com. 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,” mentioned Kris Marszalek, Co-Founder and CEO of Crypto.com.
Corporations resembling Ripple, Circle, Paxos, and Constancy Investments additionally obtained conditional approval for his or her nationwide belief financial institution constitution functions in December 2025. In the meantime, BitGo went a step additional, securing full approval from the OCC late final 12 months to transform its state belief firm right into a nationwide belief financial institution.
As well as, Trump-backed DeFi challenge World Liberty Monetary’s subsidiary submitted its software to the OCC in January to ascertain World Liberty Belief Firm, Nationwide Affiliation (WLTC). The proposed establishment would operate as a nationwide belief financial institution structured to facilitate stablecoin-focused actions.
The transfer by cryptocurrency companies into federally chartered banking buildings displays deeper integration of digital asset corporations into the US monetary regulatory framework. A nationwide belief constitution supplies federal authorized standing, enhances custody capabilities, and should strengthen institutional credibility. Working beneath OCC supervision centralizes oversight on the federal degree.
Nevertheless, this pattern has additionally raised considerations. The American Bankers Affiliation (ABA) and the Impartial Group Bankers of America (ICBA) have pushed again in opposition to the OCC granting conditional approvals. They warn that broadening crypto charters could blur the boundaries of US banking and create new challenges.
