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The Office of the Comptroller of the Currency (OCC) has granted conditional approval to charter Foris Dax National Trust Bank, operating as Crypto.com National Trust Bank.
The approval clears a key regulatory hurdle, enabling Crypto.com to offer custodial services as a federally regulated institution in the United States. These services will include digital asset custody, staking across multiple blockchain networks and protocols — including Cronos — as well as trade settlement capabilities.
Commenting on the development, Kris Marszalek, Chief Executive Officer of Crypto.com, described the approval as a major milestone.
“This milestone brings us a significant step closer to meeting the needs of leading institutions seeking a one-stop-shop qualified custodian operating under a gold standard of federal oversight,” he said.
The move positions Crypto.com among a growing list of digital asset firms pursuing national trust bank charters amid a more accommodating regulatory climate in the United States. Other industry players that have sought similar approvals include Bridge, Coinbase, Circle, Paxos, and Ripple.
Industry observers say the trend underscores a broader push by crypto firms to strengthen regulatory credibility, enhance institutional trust, and integrate more deeply into the traditional financial system.
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