Crypto.com has received conditional approval from the U.S. Office of the Comptroller of the Currency to pursue a federally chartered national bank license. The move would place the exchange under federal supervision and expand its ability to custody digital assets within a unified regulatory framework.
The company said Monday that the approval permits it to offer digital asset custody and staking services under OCC oversight. A national trust bank charter would shift supervision from a patchwork of state regulators to a single federal authority, granting explicit authorization to safeguard client assets across jurisdictions.
Will Federal Oversight Accelerate Crypto Bank Charters?
Crypto.com joins a growing list of digital asset firms seeking federal charters, including Ripple, Circle, BitGo, Fidelity Digital Assets, and Paxos. Bridge also secured conditional approval last week, reflecting accelerating institutional interest in operating under federal banking standards rather than state-by-state licensing regimes.
The regulatory backdrop has shifted over the past year. The Office of the Comptroller of the Currency clarified that U.S. banks may buy and sell crypto assets on behalf of customers and rescinded prior guidance viewed as restrictive, signaling an effort to reduce compliance friction for crypto-related activities.
“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,” said Kris Marszalek, co-founder and CEO of Crypto.com.
He added that the milestone advances the firm’s goal of serving institutions seeking a qualified custodian operating under federal oversight.
Still, conditional approval is not a final charter. The next phase will depend on whether Crypto.com can satisfy supervisory requirements and convert its preliminary status into a fully operational national trust bank, a step that could reshape how exchanges integrate custody, staking, and regulated banking services under one roof.
