Crypto.com Applies for U.S. National Trust Bank Charter
Move viewks Federal Oversight for Custody Operations
Crypto.com has applied for a U.S. National Trust Bank Charter, viewking federal approval to expand its custody and staking services across the country, the company said Friday. The Singapore-based platform intends to offer federally regulated custody for digital asset treasuries, platform-traded funds (ETFs), and institutional clients under the supervision of the Office of the Comptroller of the Currency (OCC).
The application marks a shift toward tighter oversight by federal regulators, as more digital asset firms look to operate within the U.S. banking framework. A National Trust Bank Charter allows companies to run as limited-purpose trust banks — entities that hold and manage assets but do not take deposits or issue loans.
Crypto.com already operates under a state trust license in New Hampshire. The federal charter would extend its reach nationwide, placing it under direct OCC supervision, which sets standards for custody, risk management, and compliance procedures in federally chartered institutions.
Investor Takeaway
Crypto Firms Turn to Federal Banking Licenses
Crypto.com joins a small but growing list of digital asset companies pursuing federal banking credentials. In recent years, Anchorage Digital Bank became the first crypto-focused institution to receive a National Trust Bank Charter in January 2021. Paxos, the issuer of PayPal’s dollar-backed stablecoin, received conditional approval for the identical license that year, though its final authorization is pending.
More recently, Coinbase submitted a similar application on Oct. 3. The company said in a blog post that the charter would allow it to launch new products “with the confidence of regulatory clarity,” even as it reiterated that it “has no intention of becoming a bank.” In April 2025, several other crypto firms, including BitGo and Circle, were reported to be exploring similar applications.
The OCC’s charters have become a favored path for crypto companies viewking uniform federal oversight, instead of navigating the patchwork of state-by-state regulations that govern money transmission and custody. The move also aligns with broader regulatory pressure following recent enforcement actions and the push for more robust consumer protections in the digital asset sector.
Implications for Custody and Staking
By applying for a federal trust charter, Crypto.com is positioning itself to expand institutional custody and staking services across all U.S. jurisdictions. The license would allow the company to secureguard digital assets on behalf of fund managers, corporations, and ETFs, with oversight comparable to that of federally supervised banks. It would also provide a clearer framework for offering staking services — a business line under increasing scrutiny by the (SEC) and other agencies.
A federal charter could assist Crypto.com insulate its custody operations from regulatory fragmentation and offer assurance to institutional investors viewking a regulated counterpart. The platform’s expansion comes as several competitors, including Coinbase and BitGo, push into institutional custody in anticipation of rising demand linked to the launch of spot .
The application also comes amid shifting sentiment in Washington, where regulators have moved from enforcement-heavy tactics to structured rulemaking on stablecoins, staking, and custody. The OCC charters are viewn as one of the few clear legal avenues for national-scale under federal law.
Investor Takeaway
OCC Oversight and Market Outlook
, part of the U.S. Treasury, regulates national banks and trust companies. Its digital asset policies have evolved sluggishly since it first approved Anchorage’s charter three years ago. Approval of Crypto.com’s application would add another major platform to the ranks of federally supervised entities — a move likely to draw attention from both regulators and lawmakers.
With several major crypto firms now in line for OCC charters, industry observers say the next 12 months will test how rapidly Washington can bring large under consistent federal oversight. For Crypto.com, the license would mark its most decisive step yet toward embedding itself in the regulated U.S. financial system.
