Crypto.com Wins Conditional OCC Approval to Form US National Trust Bank

Crypto.com secured conditional approval from the Office of the Comptroller of the Currency on Feb. 13 to establish Foris Dax National Trust Bank in the United States, putting the exchange on track to operate as Crypto.com National Trust Bank once regulators grant final clearance, the OCC said. The planned entity will be a limited-purpose national trust bank that will not accept public deposits or issue consumer or commercial loans, and will instead focus on institutional digital-asset custody, trade settlement, and staking across several blockchain networks, including assets linked to the company's Cronos network. The charter remains conditional while Crypto.com completes risk management systems, strengthens internal controls, and confirms compliance processes that regulators will review before final approval; during the transition, the company will continue operating its New Hampshire custody unit, and the national charter brings institutional custody under federal oversight, allowing the company to reduce reliance on separate state licenses. Crypto.com joins Ripple, Circle, Paxos and Fidelity in obtaining conditional approval for an OCC trust bank charter, and BitGo received full OCC approval to convert its state trust company into a nationally chartered trust bank late last year, Eleanor Terrett reported on Feb. 23, 2026.