Crypto.com Applies for U.S. National Trust Bank Charter

Crypto.com, a leading crypto exchange, has officially applied for a U.S. National Trust Bank Charter with the Office of the Comptroller of the Currency (OCC). 

If approved, this license would allow the exchange to operate as a federally regulated trust bank. This would place it in the same league as other crypto firms which have also applied for similar licenses, as the trend is gaining momentum in the crypto industry.

Crypto.com Aims to Boost Regulated Digital Asset Services

As announced on its official website, Crypto.com’s decision to apply for the federal charter is aimed at expanding its custody and staking services in a fully regulated environment. The license will let Crypto.com offer safe digital asset services to more clients. 

This includes big companies, exchange-traded funds (ETFs), and professional investors. It will also place the company under U.S. federal supervision to make sure it follows banking and financial rules. 

This move will help build trust among large clients and improve how Crypto.com securely holds and manages crypto assets across multiple blockchain networks, including its own Cronos chain. 

Crypto.com CEO Reaffirms Commitment to Trust and Compliance

Crypto.com CEO Kris Marszalek, who called for an investigation into the recent market crash, said the company’s goal has always been to build trusted crypto products. He emphasized that these products are designed to follow regulations and promote confidence in the industry.

He explained that applying for the federal charter is a natural next step toward reaching that goal. Marszalek reaffirmed Crypto.com’s commitment to providing secure and transparent services. This is especially as the digital asset industry faces tighter regulatory oversight. 

Crypto.com explained that the new application will not change how its current trust company, the Crypto.com Custody Trust Company (CCTC), operates. The CCTC is already regulated by the New Hampshire Banking Department and provides secure, approved custody services for clients. 

This means that its current trust services will continue to run normally and separately from the new charter application.

Crypto.com Reflects Push for Clearer U.S. Crypto Rules

Crypto.com’s application for a federal charter shows how the U.S. crypto industry is moving toward stronger rules. It also has a closer ties with the traditional banking system. In recent years, U.S. lawmakers have been creating new laws, such as the GENIUS Act, to set clearer rules for digital assets.

Other major crypto companies like Ripple, Circle, and Coinbase have also applied for federal banking licenses. This trend shows that more crypto firms want to work under federal supervision, just like regular banks, to build trust and meet higher regulatory standards.