Crypto.com is advancing its regulatory ambitions by applying for a US National Trust Bank Charter, aiming to offer federally regulated custody and trust services across the United States. In its recent announcement, the Singapore-based exchange detailed plans to provide custody services for digital asset treasuries, ETFs, and institutional clients under the oversight of the Office of the Comptroller of the Currency (OCC). This federal charter would allow Crypto.com to operate as a limited-purpose trust bank, focusing solely on managing and safeguarding client assets rather than engaging in typical banking services like deposits or loans. The company currently holds a trust license in New Hampshire.
This move places Crypto.com among a growing list of crypto firms pursuing federal bank charters, including notable names like BitGo, Circle, Anchorage Digital Bank, Paxos, and Coinbase. Anchorage has held a National Trust Bank Charter since 2021, while Coinbase, despite stating it does not intend to become a traditional bank, is seeking the charter to launch new products with greater regulatory clarity.
Crypto.com’s effort reflects a broader industry trend to embrace federal regulation and expand institutional service offerings within a trusted legal framework.
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