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Crypto.com received conditional approval from the Office of the Comptroller of the Currency to establish a national trust bank dedicated to digital asset custody and related services in the United States.
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The charter allows formation of Foris Dax National Trust Bank, which will conduct business as Crypto.com National Trust Bank once final authorization requirements are satisfied.
Structure is designed to support institutional demand for regulated custody, digital asset staking across networks such as Cronos, and trade settlement within a federally supervised framework. Model mirrors trust bank formats already used in traditional finance to safeguard client assets without functioning as a commercial lender.
Conditional approval represents a procedural stage rather than full operational clearance. Crypto.com must meet additional regulatory conditions before launching services under the charter.
Chief Executive Kris Marszalek said:
“This conditional approval is the latest testament to both our commitment to compliance and to providing customers trusted and secure services they expect from Crypto.com.”
He added:
“This milestone brings us a major step closer to meeting leading institutions needs for a one-stop-shop qualified custodian under a gold standard of federal oversight.”
Existing custody activity in the United States will continue through Crypto.com Custody Trust Company, which remains regulated by the New Hampshire Banking Department as a non depository trust company. The new federal structure would expand capabilities rather than replace that entity.