Crypto.com announced that it has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter, paving the way for the digital asset platform to offer custody and settlement services under a federal regulatory framework.
According to the company's statement, this charter allows it to manage and hold digital assets on behalf of clients and handle transaction settlements, but does not include taking cash deposits or lending. The company stated that once full approval is obtained, it will operate as a federally regulated national trust bank.
This move comes as the U.S. regulatory environment becomes more favorable to the crypto industry. Market participants believe that obtaining trust bank status will help crypto-native institutions attract more institutional investors and promote further integration of digital assets with the traditional financial system.
