Crypto.com filed an application with the U.S. Office of the Comptroller of the Currency (OCC) to become a National Trust Bank in a major push to expand its custody and staking services for corporate and institutional investors.
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Expanding Custody and Staking
The charter would reportedly allow the crypto exchange to offer custody and staking across multiple blockchains and digital asset protocols, including Cronos. The company aims to attract Digital Asset Treasuries, Exchange Traded Funds, and other institutional clients, providing a federally regulated alternative for managing digital assets.
“Building the Crypto.com product and service portfolio through regulated and secure offerings has been our focus since day one,” said Kris Marszalek, Co-Founder and CEO of Crypto.com.
“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,” he added.
The filing will not affect Crypto.com Custody Trust Company’s ongoing operations. The company remains a Qualified Custodian regulated by the New Hampshire Banking Department.
A Step Toward Institutional Leadership
By pursuing federal regulation, Crypto.com aims to position itself as a custody partner for corporate investors while maintaining flexibility to innovate in digital asset management. Crypto.com joins other crypto exchanges seeking a banking charter. Recently, Ripple applied for the same to allow the crypto firm to expand its services nationwide under federal oversight.
True to our long-standing compliance roots, @Ripple is applying for a national bank charter from the OCC. If approved, we would have both state (via NYDFS) and federal oversight, a new (and unique!) benchmark for trust in the stablecoin market.Earlier in the week via… https://t.co/IdiR7x3eWZ
— Brad Garlinghouse (@bgarlinghouse) July 2, 2025
Around the same time, Stablecoin issuer Circle also submitted an application to the U.S. Office of the Comptroller of the Currency to establish a national trust bank to oversee its stablecoin reserve.
“Establishing a national digital currency trust bank of this kind marks a significant milestone in our goal to build an internet financial system that is transparent, efficient, and accessible,” said Circle Co-Founder, Chairman, and CEO Jeremy Allaire. Coinbase also joined the banking charter bandwagon this month as crypto eyes mainstream adoption.
This article was written by Jared Kirui at www.financemagnates.com.
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