The Office of the Comptroller of the Currency (OCC) has granted conditional approval to Crypto.com for the establishment of the Foris Dax National Trust Bank, marking a transformative moment for the digital assets sector. This approval is not merely a win for Crypto.com; it signifies a broader trend toward enhanced regulatory clarity in the U.S. financial landscape. By opting for federal oversight, the company is setting a precedent that may encourage other major cryptocurrency firms to pursue similar routes.
This strategic move is particularly significant given the persistent concerns surrounding security and trust that have historically impeded institutional adoption of digital assets. With the OCC’s oversight, services related to trade settlement and staking—previously seen as experimental offerings—are now poised to be elevated to federally supervised financial products. For Wall Street firms and major corporate treasuries, the introduction of a federally chartered entity specializing in digital asset custody can substantially mitigate the risks associated with entering the cryptocurrency market. This is expected to pave the way for significant capital inflows into the sector, which has been in search of a more reliable regulatory framework.
Crypto.com’s announcement underscores its intention to provide industry-leading custodial services, including asset custody, staking across various blockchain protocols, and efficient trade settlement. Once fully approved, the Crypto.com National Trust Bank will operate strictly under OCC regulations, further solidifying its status as a preferred qualified custodian for institutional investors.
Kris Marszalek, Co-Founder and CEO of Crypto.com, emphasized the importance of this milestone. He remarked that the conditional approval reflects the company’s ongoing commitment to compliance and meeting customer expectations for secure services. This achievement brings the organization closer to fulfilling the needs of leading institutions seeking a reliable, one-stop-shop qualified custodian under stringent federal oversight.
Crypto.com initially submitted its application to the OCC in October 2025 and continues to lead the industry with its strong focus on regulatory compliance and security certifications. Notably, the conditional approval will not affect the operations of Crypto.com Custody Trust Company, which remains a qualified custodian regulated by the New Hampshire Banking Department as a non-depository trust company.
This development is being closely watched, as it represents a significant validation for centralized crypto entities seeking robust oversight. Achieving a conditional charter indicates that high-level compliance is not only possible but essential for market leaders in the digital asset space. The successful transition from conditional approval to full operational status will be pivotal. The performance and resilience of the Crypto.com National Trust Bank will ideally set a competitive benchmark for other firms looking to serve institutional capital.
