Crypto.com is pursuing a US National Trust Bank Charter, aiming for federal approval to broaden its custody and staking services across the United States. The Singapore-based cryptocurrency exchange announced its intention to offer federally regulated custody services for digital asset treasuries, exchange-traded funds (ETFs), and other institutional and corporate clients under the oversight of the Office of the Comptroller of the Currency (OCC).
A National Trust Bank Charter is a federal license granted by the OCC that permits a company to operate as a limited-purpose trust bank. Unlike traditional banks that accept deposits and make loans, trust banks specialize in holding, managing, and safeguarding assets for their clients. Crypto.com currently holds a trust license in New Hampshire.
Crypto Companies Increasingly Pursue Federal Bank Charters
Crypto.com is not the first in the industry to seek a US National Trust Bank Charter. In April 2025, reports indicated that several crypto companies, including BitGo and Circle, were exploring applications for US bank charters.
Anchorage Digital Bank, a financial institution focused on digital assets, has been operating under a US National Trust Bank Charter since January 2021. In the same year, Paxos, a stablecoin issuer, received preliminary conditional approval for a US National Trust Bank Charter.
Coinbase also submitted a similar application to the OCC on October 3. In a blog post, the company stated that while it has "no intention of becoming a bank," the charter would facilitate the launch of new products "with the confidence of regulatory clarity."
