Crypto.com has achieved a significant milestone by obtaining conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish Foris Dax National Trust Bank, which will operate under the name Crypto.com National Trust Bank. This important development marks a major step toward the company’s goal of becoming a federally regulated qualified custodian.
The conditional approval means that once full approval is granted, Foris Dax National Trust Bank will offer a range of services including custody, staking, and trade settlement. These services will be provided under the rigorous oversight of the OCC, helping to establish Crypto.com as a trusted institution in the rapidly evolving cryptocurrency landscape.
This move aligns with a broader trend in the cryptocurrency industry, where firms are increasingly seeking regulatory approvals to boost their credibility and broaden their service offerings. Notably, Anchorage Digital has introduced regulated “Stablecoin Solutions” to meet the demands of institutional clients, while CME Group is preparing to launch 24/7 crypto futures trading, underscoring the industry’s shift toward more regulated environments.
The global crypto custody market is anticipated to experience significant growth, projected to exceed $4 trillion by 2033, with a compound annual growth rate (CAGR) of 23.6% from 2025 to 2033, as reported by Grand View Research. This booming market further highlights the importance of regulatory compliance for crypto firms looking to capture institutional interest.
Kris Marszalek, CEO of Crypto.com, expressed the importance of this regulatory milestone, stating, “This conditional approval is the latest testament to both our commitment to compliance and to providing customers trusted and secure services they expect from Crypto.com.” He further noted that this achievement positions the company closer to addressing the needs of leading institutions by providing a one-stop-shop qualified custodian, maintained under stringent federal oversight.
Headquartered in Singapore, Crypto.com offers a wide array of cryptocurrency services, ranging from trading and payments to more advanced financial products. With over 150 million users globally, the platform has rapidly cemented its position in the crypto market. The OCC plays a crucial role as a U.S. federal agency responsible for regulating and supervising national banks, and it has been actively engaged in providing clarity for cryptocurrency-related financial services.
