Crypto.com is the latest crypto company to apply for a US National Trust Bank Charter, seeking federal approval to expand its custody and staking services nationwide.
In a Friday announcement, the Singapore-based crypto exchange said it plans to provide federally regulated custody services for digital asset treasuries, exchange-traded funds (ETFs), and other institutional and corporate clients under the US banking framework overseen by the Office of the Comptroller of the Currency (OCC).
A National Trust Bank Charter is a federal license from the OCC that lets a company operate as a limited-purpose trust bank. Instead of taking deposits or making loans, a trust bank focuses on holding, managing and safeguarding assets for clients.
The company is already licensed as a trust in New Hampshire.
Related: Kraken revenue jumps 114% in Q3 amid expansion and IPO plans
Crypto companies pursue federal bank charters
Crypto.com isn’t the first crypto company to file for a US National Trust Bank Charter. In April 2025, Cointelegraph reported that several crypto companies, including BitGo and Circle, were considering applying for US bank charters.
Anchorage Digital Bank, a digital asset-focused financial institution, has operated under a US National Trust Bank Charter since January 2021. That same year, stablecoin issuer Paxos was granted preliminary conditional approval for a US National Trust Bank Charter.
Coinbase filed a similar application with the agency on Oct. 3. In a blog post, the company said that while it “has no intention of becoming a bank,” the charter would enable the launch of new products “with the confidence of regulatory clarity.”
Magazine: Binance shakes up Korea, Morgan Stanley’s security tokens in Japan: Asia Express
