Crypto.com has filed an application with the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter. The company views this move as a critical step in expanding its federally supervised crypto-custody and staking-adjacent trust services for institutional clients, including ETF sponsors, corporations, and financial advisors.
The Purpose of a National Trust Bank Charter
A national trust bank is a limited-purpose national bank overseen by the OCC. It is authorized to provide custody, safekeeping, and fiduciary services nationwide but is not a full-service commercial bank; it does not take FDIC-insured deposits or issue traditional loans. For Crypto.com, this charter would extend its existing institutional services—currently handled by its New Hampshire-chartered trust company—under a unified federal regulatory framework.
Precedent and Industry Trend
Crypto.com’s filing follows a growing trend among major crypto firms seeking federal supervision for institutional services:
- Anchorage received conditional OCC approval in 2021 to convert to a national digital bank.
- Paxos received preliminary conditional approval for a national trust charter that same year.
- In 2025, Coinbase filed for the organization of Coinbase National Trust Company, and Circle applied for First National Digital Currency Bank, N.A., primarily for USDC reserves oversight and institutional custody.
Alternatively, other firms like Gemini Trust Company operate under a state-level trust charter issued by the New York State Department of Financial Services (NYDFS).
Impact
The application process has no immediate effect on Crypto.com’s current operations or its services for retail users. However, if approved, federal supervision could simplify the process for large counterparties to use the company’s trust services, potentially influencing the underlying market infrastructure and the variety of crypto-related products available to everyday investors over time.
The OCC does not comment on pending applications, and outcomes are not guaranteed, as past approvals have often come with bespoke conditions and tailored timelines.
October 2025, Cryptoniteuae
