Crypto.com has received conditional approval from the US Office of the Comptroller of the Currency (OCC) to establish a national trust bank. This development will enable the company to offer institutional-level custody, staking, and trading settlement services for digital assets under federal supervision. The new entity, named Fars Dex National Trust Bank, will operate as a limited-purpose national trust bank and, upon full approval, will be renamed Crypto.com National Trust Bank. Its focus will be exclusively on digital asset services, without engaging in deposit-taking or lending activities. While the conditional approval permits Crypto.com to commence operations, the company must still meet requirements related to capital, governance, risk controls, and internal policies to obtain final approval.
Currently, Crypto.com operates a non-depository trust company regulated by the New Hampshire Banking Department. The federal charter will work alongside this state-level entity to provide institutional clients with services under an integrated legal framework. According to CEO Kris Marszalek, this approval reflects the company’s commitment to regulatory compliance and delivering secure, reliable services to customers.
This milestone is part of a broader trend where several digital asset firms, including Circle Internet Group, Paxos, BitGo, and Fidelity Digital Assets, have secured national trust charters. Such charters provide institutional investors with regulatory clarity, easier compliance, and greater confidence in asset protection. Additionally, Marszalek recently announced plans to launch a new artificial intelligence platform by acquiring the AI.com domain for millions of dollars in cryptocurrency, signaling Crypto.com’s expansion into digital and financial technology sectors.
Source: bitcoinmagazine
