Crypto.com Receives Conditional Approval of US National Trust Bank Charter
Crypto.com announced Monday that it received conditional approval from the Office of the Comptroller of the Currency to establish a national trust bank in the United States.
The move represents a major step toward federal oversight of digital asset exchanges, allowing them to provide a central custodial, staking, and trade settlement services under the direct supervision of the OCC.
The new entity, Foris Dax National Trust Bank – which will operate as Crypto.com National Trust Bank once fully authorized – will operate as a national limited-purpose bank.
It will not accept deposits or issue loans, but will focus exclusively on digital asset services. Conditional approval allows Crypto.com to proceed with its plans, although the company must meet pre-opening requirements related to capital, governance, risk management, and internal policies before final approval is granted.
Crypto.com already operates Crypto.com Custody Trust Company, a non-deposit trust company regulated by the New Hampshire Department of Banking.
Crypto.com: A one-stop crypto keeper
The organization’s charter will sit alongside the existing state-level organization, providing institutions with a professional “one-stop shop” under a single government regulatory framework. According to CEO Kris Marszalek, the accreditation underscores the company’s commitment to complying with regulations and providing secure, regulated services to customers.
“This conditional approval is the latest testament to both our commitment to compliance and to providing customers with the trusted and secure services they have come to expect from Crypto.com,” said Marszalek. “This historic step brings us closer to meeting the needs of leading institutions for a professional one-stop shop under the gold standard for state oversight.”
According to Bloomberg, Marszalek was one of the first crypto executives to meet Trump at Mar-a-Lago following his 2024 election victory. The company then donated $1 million to Trump’s inauguration committee and made eight individual donations to MAGA Inc., a conservative political committee.
In January, the exchange added another $5 million to MAGA Inc., according to a recent filing.
The announcement puts the exchange among a growing wave of digital asset firms pursuing national trust charters, including Circle Internet Group, Paxos, BitGo, and Fidelity Digital Assets.
For institutional investors, such organizational oversight provides regulatory clarity, simplifies compliance, and strengthens confidence in digital asset storage solutions.
Earlier this month, Marszalek acquired the AI.com domain for about $70 million, planning to launch a consumer AI platform under the brand.
The purchase, financed by Larry Fischer, is believed to be the largest business of the site to date, and the site was previously listed at $ 100 million.
