Crypto.com submitted an application to the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter on October 25, 2025, according to a company announcement. The charter would allow Crypto.com to offer federally supervised crypto custody, safekeeping and related fiduciary services nationwide, specifically targeting institutional clients such as ETF sponsors, corporate treasuries and registered investment advisers.
The exchange emphasized that the application does not affect operations at Crypto.com Custody Trust Company, its New Hampshire–chartered, non–depository qualified custodian. The existing custodian continues to provide secure storage for institutional assets under state supervision. The OCC national trust bank would be a limited-purpose institution, capable of custodial and trust functions without accepting FDIC–insured deposits or making traditional loans.
Precedent exists in the digital asset space: Anchorage Digital Bank received conditional OCC approval in 2021, followed by Paxos National Trust. Earlier this month, Coinbase filed to organize Coinbase National Trust Company, N.A., and Circle applied for First National Digital Currency Bank, N.A., to oversee USDC reserves and institutional custody. Crypto.com’s filing reflects a continued industry trend toward federal oversight for institutional trust services.
If approved, a Crypto.com national trust bank could simplify regulatory compliance for large counterparties by consolidating custody and trust powers under a single federal charter. Over time, this framework could influence market plumbing, affecting asset segregation, verification processes and the development of custody–linked financial products. Retail users should see no immediate changes, as the charter exclusively targets institutional infrastructure.
The OCC generally does not comment on pending applications. Past approvals have been conditional and bespoke, underscoring unique operating agreements and tailored timelines. As regulators assess Crypto.com’s proposal, industry observers will monitor the application portal and related filings for updates. The outcome will provide insights into the evolution of federally supervised digital asset custody in the United States.
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