Crypto.com gets OCC conditional OK for national trust bank

Has Crypto.com received OCC conditional approval? No verified confirmation

There is no verified confirmation that crypto.com has received conditional approval for a national trust bank charter. according to the Office of the Comptroller of the Currency’s public releases, no notice specific to Crypto.com is available.

Available records indicate the company submitted an application for a national trust bank charter on October 24, 2025, according to Crypto.com. That status differs materially from a conditional approval, which would require a published decision and detailed conditions from the chartering authority.

Several trade sites have circulated headlines suggesting approval, but without a regulator’s published decision the claim remains unverified. The status should therefore be treated as “application pending review.”

What a national trust bank charter is and isn’t

A national trust bank charter authorizes fiduciary and custody activities under federal oversight. It is designed for safekeeping, fiduciary administration, and related services, not for taking deposits or making consumer loans.

Entities operating under this charter are not FDIC‑insured, do not offer retail checking or savings accounts, and do not issue debit cards under the charter. The model is custody‑focused, with conditions typically addressing capital, governance, technology controls, and financial‑crime compliance.

For institutions, a federal trust charter can centralize oversight and standardize controls across states. However, the scope remains narrower than a full‑service commercial bank, and consumer protections differ because deposits are not involved.

Pending a regulatory decision, Crypto.com’s U.S. custody services remain unchanged. Its New Hampshire‑chartered Crypto.com Custody Trust Company continues to serve as a qualified custodian, as reported by Cointelegraph.

At the time of this writing, Cronos (CRO) trades around $0.07501, alongside a 6.15% volatility reading and a 35.48 RSI. These figures provide context only and do not reflect any charter outcome.

How this aligns with OCC crypto trust charter precedents

Application references: Foris Dax National Trust Bank

Public reporting has linked the application to a proposed entity named Foris Dax National Trust Bank; that framing has not been corroborated by a regulator’s notice. After such coverage surfaced, editorial scrutiny focused on the absence of a published decision.

“Crypto.com has received conditional approval from the Office of the Comptroller of the Currency to form Foris Dax National Trust Bank, which will operate…,” said FinanceFeeds. That reported assertion remains unverified against official releases.

Peers with conditional approvals: Circle, Ripple, BitGo, Fidelity, Paxos

As reported by Axios, the chartering authority has previously issued conditional approvals to Circle, Ripple, BitGo, Fidelity digital assets, and Paxos. Those decisions were accompanied by detailed conditions and public documentation.

FAQ about OCC conditional approval

What is a national trust bank, and how is it different from an FDIC‑insured commercial bank?

It is a federal charter for fiduciary and custody services. It does not accept deposits, is not FDIC‑insured, and lacks retail banking powers typical of commercial banks.

What services could Crypto.com expand under a national trust bank charter, especially for institutional crypto custody?

Potentially broader, federally supervised custody and fiduciary services, subject to conditions. Any expansion would center on safekeeping and controls, not deposit‑taking or retail banking.