Crypto.com is taking a decisive step toward deeper integration with the U.S. financial system, filing for a National Trust Bank Charter with the Office of the Comptroller of the Currency (OCC) - a move that could transform the exchange into one of the first federally regulated crypto custodians in the country.
The charter would effectively allow Crypto.com to operate under the same framework as national banks, offering institutional clients custody and treasury services within a federally supervised structure. This includes managing digital assets, ETFs, and staking products across multiple blockchains – most notably its in-house Cronos network.
Chief Executive Kris Marszalek said the decision reflects a long-term strategy to align with traditional finance. “Building trust has always been at the heart of our mission,” he explained, noting that the firm’s ultimate goal is to make crypto as reliable and transparent as the banking sector itself.
Building a Two-Tier Custody Network
Crypto.com already operates the Crypto.com Custody Trust Company (CCTC) under New Hampshire state oversight. The new application will not replace that structure but rather complement it, allowing the company to function at both the state and federal levels. This dual model could position Crypto.com as a rare bridge between decentralized technology and U.S. regulatory standards.
Industry analysts say this is more than a compliance move – it’s an attempt to future-proof the company. As Washington debates the long-awaited crypto market structure bill, firms are racing to secure federal approval ahead of regulatory consolidation.
Following Ripple and Circle’s Path
Crypto.com is not alone in pursuing this strategy. Both Ripple and Circle – major players in cross-border payments and stablecoins – have filed for similar federal charters as part of a shift toward tighter integration with the U.S. banking framework. Coinbase has also taken early steps to obtain a national license, signaling a broad trend toward regulatory normalization.
By pursuing this route, leading crypto firms are acknowledging that the next era of growth will depend not on regulatory avoidance, but on regulatory adoption. Federal oversight could open doors to managing large-scale institutional capital and serving as qualified custodians for investment funds.
A Sign of Maturity for the U.S. Crypto Market
If approved, Crypto.com would gain the ability to offer federally backed custody – something long sought after by corporate treasuries, pension funds, and ETF issuers wary of the fragmented state-by-state oversight currently governing the crypto sector.
The move also reflects a broader political shift: under the Trump administration, regulators have signaled willingness to integrate digital assets into existing banking laws rather than treat them as a separate, speculative niche.
Crypto.com’s bid may take months to process, but its intent is clear – the company wants to evolve from an exchange into a fully-fledged financial institution, where crypto assets can coexist with the same protections and compliance expectations as traditional securities.
In an industry once defined by disruption, Crypto.com’s banking application shows just how far the pendulum has swung toward institutional legitimacy.
