Crypto.com has taken a significant step toward federal recognition by applying for a US National Trust Bank Charter. This federal license, granted by the Office of the Comptroller of the Currency (OCC), would authorize the crypto exchange to provide federally regulated custody and trust services across the United States. The charter is designed for institutions that do not take deposits or make loans but specialize in holding, managing, and safeguarding assets for clients. Currently licensed as a trust in New Hampshire, Crypto.com aims to expand its custody offerings for digital asset treasuries, ETFs, and institutional clients under this framework.
This move places Crypto.com among a growing number of crypto firms pursuing federal bank charters to boost regulatory clarity and confidence. Other notable applicants and charter holders include Anchorage Digital Bank, Paxos, Circle, BitGo, and Coinbase. By gaining this charter, Crypto.com expects to launch innovative financial products with stronger regulatory backing, positioning itself at the forefront of crypto-native financial services in the US.
For more details, see the full article at: https://cointelegraph.com/news/crypto-com-federal-us-trust-bank-charter-application
Source: https://cointelegraph.com/news/crypto-com-federal-us-trust-bank-charter-application