TLDR:
- Crypto.com received conditional approval from the OCC to form Foris Dax National Trust Bank on February 23, 2026.
- The federal charter will cover digital asset custody, blockchain participation, and trade settlement services.
- Crypto.com filed for OCC status in October 2025 after building a track record of global compliance.
- The approval does not affect Crypto.com Custody Trust Company’s ongoing operations under New Hampshire regulation.
Crypto.com received conditional approval from the Office of the Comptroller of the Currency (OCC) to form Foris Dax National Trust Bank, doing business as Crypto.com National Trust Bank.
The announcement came on February 23, 2026. This approval marks a key regulatory milestone for the company. It paves the way for Crypto.com to become a federally regulated qualified custodian.
The services provided for in the new charter will include custody, staking and trade settlement across multiple blockchain protocols.
OCC Conditional Approval Marks Regulatory Turning Point
The OCC’s conditional approval gives Crypto.com a clear path to full federal regulation. Once fully approved, the national trust bank will operate under the direct supervision of the OCC.
This federal framework provides a higher standard of regulatory accountability for institutional clients. The approval is a direct result of the company’s long-standing commitment to compliance.
Crypto.com submitted its charter application to the OCC in October 2025. The conditional approval follows months of regulatory review by the agency.
The company has built a consistent track record of obtaining licenses and certifications in multiple jurisdictions. This national trust bank statute now adds a federal layer to that regulatory foundation.
Crypto.com co-founder and CEO Kris Marszalek addressed the development in an official statement. He said: “This conditional approval is the latest testament to our commitment to compliance and providing customers with the reliable and secure services they have come to expect from Crypto.com.” His comments pointed to the firm’s broader ambition to become a leading qualified custodian in the United States.
The conditional approval does not affect the current operations of Crypto.com Custody Trust Company. That entity remains regulated by the New Hampshire Department of Banking as a non-deposit trust company.
Clients will continue to receive uninterrupted custody services during this period. Both entities are expected to operate independently once the national trust bank receives full approval.
Federal letter to strengthen the offer of comprehensive custody
The new national trust bank will bring together a broad range of custody services under one federally regulated roof. These services include digital asset custody, multi-blockchain participation, and trade settlement.
The Cronos blockchain is among the protocols covered by the proposed service offering. This breadth of services positions the company to serve a wide range of institutional clients.
Marszalek also highlighted the role of the charter in addressing institutional needs. He stated: “This milestone brings us an important step closer to meeting the needs of leading institutions for a qualified one-stop custodian under a gold standard of federal oversight.”
Institutions have increasingly looked to federally regulated custodians to meet their own compliance requirements. The approval of Crypto.com responds directly to that demand.
Institutional interest in regulated digital asset custodians has grown considerably in recent years. A federally chartered trust bank carries a level of oversight that state-regulated entities cannot match.
This distinction has particular weight for large financial institutions with strict internal compliance standards. Therefore, the OCC statutes open access to a broader and more sophisticated institutional client base.
The company continues to lead the industry in regulatory certifications and compliance licenses in global markets.
OCC conditional approval adds a federal credential to that existing portfolio. Crypto.com now awaits full approval before beginning to operate under the new statutes.
The company’s constant regulatory progress reflects a long-term strategy based on trust and institutional compliance.
