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Crypto.com is the latest cryptocurrency exchange to receive conditional approval for a national trust bank charter from the Office of the Comptroller of the Currency.<\/p>\n
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The platform’s parent company, Foris DAX, received conditional approval on Friday. According to Crypto.com announced the news on Monday, pending full approval once the company has met the conditions the OCC outlined in its initial charter approval.<\/p>\n “This milestone brings us a major step closer to meeting leading institutions’ needs for a one-stop-shop qualified custodian under a gold standard of federal oversight,” said Crypto.com co-founder and CEO Kris Marszalek in a statement.<\/p>\n The company originally filed its application with the OCC in October 2025. In that month, Crypto’s parent company Foris DAX also donated $10 million to the political action committee MAGA, Inc., according to Federal Election Committee Crypto.com did not respond to a request for comment from American Banker on the donations in time for publication.<\/p>\n An assortment of other crypto firms have received conditional approval for national trust bank charters in recent weeks, including Pitchbook senior analyst Rudy Yang noted in a National trust bank charters are a type of charter that Custody services, according to the OCC, are related to the settlement, safekeeping and reporting of customers’ marketable securities \u2014 in this case, digital assets.<\/p>\n “Trust and special-purpose charters provide clearer regulatory standing and enable regulated asset custody, critical for stablecoin issuers and custody providers,” Yang said.<\/p>\n The conditional approval will not impact Crypto.com’s status as a qualified custodian regulated by the New Hampshire Banking Department, according to the company.<\/p>\n Last month, Crypto.com Last year, the Last week, Commodities and Futures Trading Commission Chairman Michael Selig publicly backed Crypto.com through filing a friend-of-the-court brief for the pending lawsuit in Nevada.<\/p>\n “The CFTC will no longer sit idly by while overzealous state governments undermine the agency’s exclusive jurisdiction over these markets by seeking to establish statewide prohibitions on these exciting products,” Selig wrote in an op-ed published