Crypto.com Seeks U.S. National Trust Bank Charter — Betting Big on Institutional Custody

The exchange behind 100M users just filed for federal approval to become a U.S. trust bank — not to lend or hold deposits, but to custody crypto like Wall Street never could.

⚡ Quick Hits

• 🏦 Crypto.com applies to the OCC for a national trust bank charter
• 💼 Focus: institutional custody for ETF issuers, corporates, and advisers
• 🔐 Would enable federally supervised safekeeping — not traditional banking
• 🧩 Anchorage and Paxos received similar conditional approvals in 2021
• 🇺🇸 Signals deeper integration between crypto and U.S. federal oversight

🧭 The Federal Play

Crypto.com has filed an application with the U.S. Office of the Comptroller of the Currency (OCC) — the federal agency overseeing national banks — to form a Crypto.com National Trust Bank.

But this isn’t about checking accounts or loans. The goal: expand federally supervised crypto custody for institutions that demand trust-grade oversight.

If approved, the charter would allow Crypto.com to safekeep and manage digital assets nationwide under a federal regulatory framework — a major upgrade for ETF sponsors, corporations, and financial advisers seeking compliant digital-asset exposure.

“It’s a play for credibility,” says one analyst. “Crypto.com isn’t chasing retail. It’s building for BlackRock.”

⚙️ What the Charter Means

The OCC charter would let Crypto.com operate as a national trust bank, offering:

• Institutional-grade custody and safekeeping
• Segregated client asset management across multiple blockchains
• Federally supervised governance under OCC standards

Importantly, this entity won’t function as a commercial bank — no FDIC-insured deposits, no lending, no retail accounts.

It’s a custody engine, not a credit system.

🧩 The Status Quo: New Hampshire Still Rules

Until Washington gives the green light, nothing changes operationally. Crypto.com will continue to serve clients through Crypto.com Custody Trust Company, its New Hampshire–chartered qualified custodian.

That structure already covers institutional clients across multiple jurisdictions. The new OCC charter would simply federalize and scale those services.

🏛️ Context: Following the Anchorage Playbook

This move mirrors earlier efforts by other regulated crypto custodians:

• Anchorage Digital Bank and Paxos National Trust received OCC approval in 2021.
• Coinbase and Circle both filed similar federal applications in 2025.

It’s a trend — crypto firms aligning with U.S. banking infrastructure, not bypassing it.

⚖️ Federal vs. State Supervision

Crypto custody is now diverging into two clear regulatory paths:

• Federal charters (OCC): Uniform oversight across all states, ideal for scaling.
• State charters (like NYDFS): Specialized frameworks, often stricter but regionally limited.

Gemini, for example, operates under a New York limited-purpose trust — proof that state-based regulation can still coexist with national players.

Crypto.com’s move signals a preference for federal clarity and institutional access, rather than piecemeal state permissions.

👥 Retail Impact: Indirect but Important

For retail users, this charter doesn’t change daily experience — no new features, no product shifts. But indirectly, it’s a massive step.

Federal custody integration could:

• Improve asset segregation and investor protection
• Strengthen ETF infrastructure and liquidity bridges
• Build trust and interoperability between traditional finance and crypto platforms

When Wall Street feels safer holding coins, the entire market benefits.

🧩 Uncertain Approval — But Clear Intent

The OCC rarely comments on active filings, and approval isn’t automatic. If granted, it would come with case-specific conditions and a detailed rollout timeline.

Still, Crypto.com’s move sends a strong signal: The exchange isn’t betting on hype — it’s betting on institutional credibility.

“This is about standardization, not speculation,” says a former OCC official.

🧠 Bigger Picture

Crypto.com’s federal charter bid represents a turning point for crypto custody — the shift from experimental trust to regulated infrastructure.

By bringing crypto under the same roof as Wall Street custodians, the company aims to bridge the trust gap that has long separated institutions from blockchain.

It’s not DeFi. It’s not deregulation. It’s integration — the next phase of crypto’s institutionalization.

TL;DR

• 🏦 Crypto.com filed for a U.S. national trust bank charter with the OCC
• 🔐 Goal: federally supervised custody for ETFs, corporates, and advisers
• 🧩 No retail banking — no FDIC, no lending
• ⚖️ Follows Anchorage, Paxos, Coinbase, Circle toward federal oversight
• 🏗️ If approved, would strengthen U.S. crypto infrastructure and trust