Crypto.com has taken a major step toward federal regulation by applying for a US National Trust Bank Charter. This charter, if granted by the Office of the Comptroller of the Currency (OCC), would enable the crypto exchange to offer federally regulated custody and trust services across the United States. The move positions Crypto.com to better serve institutional and corporate clients by providing secure management of digital asset treasuries, exchange-traded funds (ETFs), and more under a trusted federal framework.
Unlike traditional banks, a National Trust Bank Charter allows firms like Crypto.com to focus solely on custodial duties, holding and safeguarding assets rather than accepting deposits or issuing loans. Currently licensed as a trust in New Hampshire, Crypto.com seeks to broaden its regulatory footing to a national level, reflecting a growing trend among major crypto firms pursuing federal bank charters.
Other industry players such as BitGo, Circle, Anchorage Digital Bank, Paxos, and Coinbase have also sought or obtained National Trust Bank Charters, signaling a shift toward mainstream financial compliance. Coinbase emphasized that the charter is not intended for becoming a conventional bank but to provide clarity and confidence for launching innovative financial products. By aiming for federal oversight, Crypto.com is solidifying its commitment to regulatory transparency and expanding its institutional capabilities within the evolving digital asset landscape.
Read more: https://cointelegraph.com/news/crypto-com-federal-us-trust-bank-charter-application