Crypto.com has officially applied for a U.S. bank charter, marking a strategic step in its bid to expand custody services for digital assets, including treasuries and exchange-traded funds (ETFs).
The global cryptocurrency exchange, founded in 2016, confirmed Friday that it submitted an application to the Office of the Comptroller of the Currency (OCC) for a national trust bank charter. The move places Crypto.com alongside industry peers such as Circle, BitGo, and Ripple, all pursuing federal recognition to operate as regulated service providers in the United States.
At present, Crypto.com functions as a non-depository trust company under New Hampshire’s state-level regulations. CEO Kris Marszalek reaffirmed the company’s long-term focus on compliance and security, noting that regulated growth has been central to Crypto.com’s mission from the start.
The timing of the application aligns with a shifting U.S. regulatory environment. President Donald Trump’s return to office has brought a more favorable stance toward the crypto sector, with recent actions including easing certain restrictions and introducing the first federal framework for stablecoin issuers. These developments have encouraged fintech and crypto firms to pursue national charters that would grant them greater access to the country’s financial infrastructure.
Adding to the momentum, Federal Reserve Governor Christopher Waller recently expressed openness to granting “skinny” master accounts to fintech and crypto institutions—providing limited access to Federal Reserve systems such as Fedwire. Anchorage Digital Bank, which already holds a national trust charter, currently awaits approval for its master account.
Crypto.com’s bid underscores the accelerating push by digital asset companies to secure a stronger and more transparent position within the traditional financial system. If successful, the charter could bolster confidence in digital assets and further bridge the gap between crypto innovation and mainstream banking.
