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Crypto.com has just secured conditional approval from the Office of the Comptroller of the Currency. The exchange can now establish a national trust bank on U.S. soil.
The new entity will be called Foris Dax National Trust Bank but will operate under the name Crypto.com National Trust Bank once final approvals are obtained. It will function as a limited-purpose national trust bank, meaning no traditional deposits or loans. Only digital asset services: custody, staking, transaction settlement. All under the direct supervision of the OCC, which significantly changes the game for the company. Crypto.com already manages Crypto.com Custody Trust Company in New Hampshire, but this is at the federal level.
Not so simple, though.
The conditional approval requires Crypto.com to meet strict requirements before final authorization. Capital, governance, risk control, internal policies—everything must be rock-solid. OCC officials emphasized the importance of strict oversight to ensure the security of digital assets held by the entity. CEO Kris Marszalek says it’s “the latest testament to our commitment to compliance and providing secure services.” For institutional investors, this federal oversight offers regulatory clarity and simplifies compliance.
And Crypto.com is not alone in the race. Circle Internet Group, Paxos, BitGo, Fidelity Digital Assets—all are pushing to obtain similar national trust charters. On February 20, Circle also submitted a similar application. Competition is quickly intensifying in this sector.
Marszalek also made headlines this month by purchasing the domain AI.com for about $70 million in crypto. Negotiated by Larry Fischer, it’s likely the largest domain name transaction to date. The domain was listed at $100 million before. He plans to launch a consumer AI platform under this brand, but no further details are available yet. See also: Nakamoto completes acquisition of BTC inc.
International expansion continues as well. In January 2026, the company obtained an operating license in Singapore, strengthening its position in the Asian market. Crypto.com clearly aims to become a major player on a global scale, and it’s evident.
On the financial side, the company remains silent about the details concerning the establishment of its new trust bank. No information on necessary investments or profitability projections. In January, Crypto.com added an additional $5 million to MAGA Inc., a conservative political action committee, according to a recent filing.
The OCC’s requirements for final approval include the establishment of robust internal controls. Crypto.com must prove it can effectively manage the risks associated with digital assets. The process is overseen by independent auditors who will assess compliance with federal standards. No date has been set for the final audit yet.
The appointment of experienced executives to the board of Foris Dax National Trust Bank will also be crucial. Crypto.com is currently in discussions with several candidates with expertise in traditional finance and blockchain technology. A spokesperson says announcements should be made in the coming months. This follows earlier reporting on <a href="https://thecurrencyanalytics.com/altcoins/tron-eyes-0-45-target-as-february-crypto-markets-cool-down-244377" title="TRON Eyes
.45 Target as February Crypto Markets Cool Down”>TRON Eyes
.45 Target as February.
The potential impact on traditional financial markets remains unclear. Major banking institutions are closely monitoring these developments, as the integration of digital assets into the regulatory framework could redefine existing business models. Coinbase and Binance are also seeking similar approvals. The race for regulatory compliance is becoming a key factor in attracting institutional investors, who demand robust guarantees. No official statements from major traditional banks have been made on this matter yet.
Obtaining a national trust charter represents a significant competitive advantage in a market where institutional trust remains fragile. National trust banks benefit from federal recognition, which facilitates partnerships with traditional financial institutions and pension funds. Goldman Sachs and JPMorgan Chase are watching these developments closely, as they could influence their own strategies for integrating cryptocurrencies. The federal status also allows operations in all U.S. states without needing individual licenses, saving considerable time and money.
The stakes extend far beyond Crypto.com. The digital asset industry is desperately seeking this regulatory legitimacy after the FTX and Terra Luna scandals shook investor confidence. According to PwC data, institutional investments in crypto-assets fell by 67% in 2023 compared to 2022. National trust charters could reverse this trend by offering a safer legal framework. BlackRock and Vanguard, giants in asset management, are precisely waiting for such guarantees to massively develop their crypto offerings.
