Crypto.com has taken a significant step toward securing a stronger federal presence by applying for a US National Trust Bank Charter. If granted, this charter will empower the leading crypto exchange to offer federally regulated custody and trust services across the United States, enhancing security and regulatory compliance for digital assets. The Singapore-based company aims to support digital asset treasuries, ETFs, and other institutional clients under the regulatory oversight of the Office of the Comptroller of the Currency (OCC).
A National Trust Bank Charter allows firms to operate as limited-purpose trust banks, specializing in safeguarding and managing assets rather than traditional banking activities like lending or deposit-taking. Crypto.com already holds a trust license in New Hampshire and now looks to scale its services nationwide with this federal approval.
Crypto.com joins a growing list of crypto companies pursuing such charters, including industry names like BitGo, Circle, Coinbase, and Anchorage Digital Bank. This trend highlights the sector’s push toward regulatory clarity and deeper integration within the U.S. financial system. Coinbase, for instance, noted that while it doesn’t intend to become a traditional bank, the trust charter would facilitate launching new products under clear regulatory guidelines.
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Source: https://cointelegraph.com/news/crypto-com-federal-us-trust-bank-charter-application