Global crypto platform Crypto.com has received conditional approval from the Office of the Comptroller of the Currency (OCC) to launch a federally regulated trust bank in the United States. The approval marks a major step in the company’s plan to expand its services for large investors.
The approval allows the company to move forward with creating Foris Dax National Trust Bank, which will later operate as Crypto.com National Trust Bank. However, the bank cannot begin full operations yet. It must first meet strict regulatory conditions related to safety, compliance, and risk management.
Unlike traditional banks, the trust bank will not accept cash deposits or give loans. Instead, it will focus on storing and managing cryptocurrencies for institutions. This includes custody services, trade settlement, and staking across multiple blockchain networks.
The company first applied for the charter in October 2025. Since then, it has worked closely with regulators to meet federal requirements. Once approved fully, the trust bank will operate under national oversight instead of relying on multiple state licenses.
CEO Kris Marszalek said the approval shows the company’s strong focus on security and compliance. He added that the move will help Crypto.com become a trusted partner for institutions that want safe and regulated crypto services.
This decision also reflects a wider trend in the crypto industry. Major firms like Circle, Ripple, Paxos, and Fidelity Digital Assets have already pursued similar trust bank approvals.
Experts say large investors prefer federally regulated platforms because they offer more transparency and lower risk. Federal oversight also makes crypto services more attractive to traditional financial institutions.
If Crypto.com meets all conditions, the trust bank will help the company expand across the U.S. and strengthen its position in institutional crypto custody. It could also make it easier for big investors to enter the crypto market safely.
