Crypto.com Seeks US National Trust Bank Charter for Expanded Custody Services

• Crypto.com’s application focuses on custody services for digital asset treasuries.

• The charter allows limited-purpose trust banking without deposits or loans.

• Similar applications from Coinbase and others highlight growing crypto integration with US regulations, with Anchorage Digital operating under such a charter since 2021.

Crypto.com applies for US National Trust Bank Charter to boost custody services. Discover how this move enhances regulatory compliance and institutional offerings in the crypto space. Stay updated on crypto regulations.

What is Crypto.com’s US National Trust Bank Charter Application?

Crypto.com’s US National Trust Bank Charter application seeks federal approval to provide regulated custody and trust services for digital assets across the United States. The Singapore-based exchange announced on Friday its intent to operate under the Office of the Comptroller of the Currency (OCC) framework, targeting institutional clients, exchange-traded funds (ETFs), and corporate treasuries. This move builds on its existing trust license in New Hampshire, aiming to enhance service reliability and compliance.

How Does a National Trust Bank Charter Benefit Crypto Exchanges?

A National Trust Bank Charter grants companies the ability to hold, manage, and safeguard client assets without engaging in traditional banking like deposits or loans. For crypto firms, this means offering secure custody for digital assets under federal oversight, reducing risks associated with state-level regulations. According to OCC guidelines, such charters have been issued to entities like Anchorage Digital since January 2021, enabling them to serve a broader client base with heightened security standards. Crypto.com’s pursuit aligns with industry trends, where regulated custody can attract more institutional investment—data from Chainalysis indicates that institutional crypto adoption grew by 25% in 2024 alone. Experts note that this structure provides clarity amid evolving regulations, as seen in Paxos receiving preliminary approval in 2021.

Frequently Asked Questions

What Services Would Crypto.com Offer Under the US National Trust Bank Charter?

Under the charter, Crypto.com plans to deliver federally regulated custody for digital asset treasuries, ETFs, and institutional clients, including staking services. This would operate nationwide, ensuring compliance with OCC standards for asset management and protection, without traditional banking activities like lending.

Why Are Crypto Companies Like Crypto.com Seeking US Bank Charters?

Crypto companies seek US bank charters to gain regulatory clarity and expand services securely. For instance, the charter allows focused operations on asset custody, appealing to institutions wary of unregulated platforms. This trend supports broader crypto integration into the financial system, as voiced by industry leaders emphasizing the need for federal oversight in digital asset management.

Key Takeaways

• Regulatory Expansion: Crypto.com’s application underscores the shift toward federal oversight, potentially setting a precedent for other exchanges to follow in the US market.
• Institutional Focus: The charter targets custody for ETFs and corporate clients, addressing a key demand in the growing $2 trillion crypto sector as per 2025 market analyses.
• Industry Momentum: With precedents like Anchorage Digital and recent Coinbase filings, this move signals accelerating crypto adoption under US banking frameworks—consider monitoring OCC updates for developments.

Conclusion

Crypto.com’s application for a US National Trust Bank Charter marks a significant step in aligning the crypto exchange with federal regulations, enhancing its custody and staking services for institutional users. By leveraging OCC oversight, the firm positions itself to meet rising demands for secure digital asset management in the United States. As more crypto companies pursue similar charters, the industry edges closer to mainstream financial integration—investors and institutions should watch for approval outcomes to gauge broader impacts on market stability and innovation.

If approved, the charter would allow the crypto exchange to offer federally regulated custody and trust services in the United States.

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.

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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.”

Excerpt from Coinbase’s announcement. Source: Coinbase