Crypto.com Secures Conditional Approval for National Trust Bank Charter
Decrypt
by Andrew HaywardFebruary 23, 2026
AI-Generated Deep Dive Summary
Crypto.com has achieved a significant milestone by receiving conditional approval from the Office of the Comptroller of the Currency (OCC) for a national trust bank charter. This approval allows the company to operate as a federally regulated entity, offering services such as digital asset custody, staking, and trade settlement under strict oversight. Crypto.com joins a growing list of crypto firms, including Circle, Ripple, and others, that have secured similar charters.
The OCC's decision was influenced by two key regulatory developments: the May 2023 ruling confirming that banks can hold cryptocurrency assets for customers, and the July signing of the GENIUS Act. This act regulates stablecoin issuance and trading, addressing a critical area in the crypto market. These steps have created a more favorable environment for crypto companies to integrate with traditional financial systems.
However, this shift has not been without resistance. Traditional banking groups are calling for slower approvals and greater transparency, citing concerns about safety standards and regulatory gaps. The American Bankers Association has emphasized the need for stringent oversight to protect consumers and maintain financial stability.
The approval of Crypto.com's charter reflects a broader trend in the
Verticals
cryptoweb3
Originally published on Decrypt on 2/23/2026