Crypto.com has filed an application with the Office of the Currency Comptroller (OCC) for a National Trust Bank Charter, as announced on October 24, 2025. This move places the exchange among other crypto firms like Circle, Coinbase, and Stripe's Bridge that have sought similar charters, reflecting a broader trend of crypto companies integrating with traditional banking systems.
In a statement, Crypto.com co-founder and CEO Kris Marszalek emphasized the firm's commitment to regulated offerings, stating, "Building the Crypto.com product and service portfolio through regulated and secure offerings has been our focus since day one. We are excited to take this next step by filing for a national trust bank charter and look forward to continuing to pursue opportunities to provide customers with the trusted services they require." If approved, the charter would position Crypto.com as a preferred custody service destination, enabling it to attract more institutional clients and potentially offer new services like token staking across multiple blockchains.
The application follows the OCC's earlier approval for banks to custody crypto assets, and recent developments include the Federal Reserve exploring expedited "skinny" master accounts for firms lacking full access. Crypto.com's CRO token experienced a brief price spike after the announcement, though gains were short-lived. The firm clarified that it does not intend to operate as a traditional bank but aims to leverage the charter to strengthen its custody business and related institutional offerings.
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