Five Crypto Firms Win Initial Approvals as Banks, Including Ripple, Circle, Fidelity

Policy Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Five Crypto Firms Win Initial Approvals as Banks, Including Ripple, Circle, Fidelity The firms have obtained conditional approval from the Office of the Comptroller of the Currency to convert into national trust banks. By Krisztian Sandor , Jesse Hamilton Dec 12, 2025, 4:39 p.m. Jonathan Gould's Office of the Comptroller of the Currency has approved an array of conditional bank charters for crypto firms. (Nikhilesh De/CoinDesk) What to know : Crypto firms Circle, Ripple, Fidelity Digital Assets, BitGo and Paxos received conditional approval by the OCC to become federally chartered banks. The move sets up firms to follow in the footsteps of Anchorage Digital, the first to get a federal bank charter in the U.S. A slew of stablecoin issuers and crypto firms, including Coinbase, filed for federal oversight after GENIUS Act was written into law. Five digital asset firms have received conditional approvals Friday to become federally chartered banks by the Office of the Comptroller of Currency (OCC) in a major step to bring U.S. dollar stablecoin issuers under federal regulatory oversight. Blockchain firm Ripple and Circle's (CRCL) First National Digital Currency Bank are on the list, which also includes BitGo, Fidelity Digital Assets and Paxos, each having previously operated under state charters. STORY CONTINUES BELOW Don't miss another story. Subscribe to the State of Crypto Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . The OCC is the only federal agency that charters banks and trusts, and this surge in approvals potentially marks a major turning point in crypto banking. Since the arrival of President Donald Trump's administration, the regulator — run by his appointee, Jonathan Gould — has shifted from a crypto-resistant stance to a friendly approach. "The OCC will continue to provide a path for both traditional and innovative approaches to financial services to ensure the federal banking system keeps pace with the evolution of finance and supports a modern economy," Gould said in a statement. If the newly approved trust banks can meet agency expectations, they'll permanently join about 60 regulated institutions with such charters, which allow for fiduciary activities including custody. Banking Ripple Circle Paxos Fidelity BitGo More For You Protocol Research: GoPlus Security By CoinDesk Research Nov 14, 2025 Commissioned by GoPlus What to know : As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M. GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month. Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B. View Full Report More For You Polish Government Urges President to Sign Crypto Bill He Already Rejected: Report By Olivier Acuna | Edited by Sheldon Reback 2 hours ago The Polish government reintroduced crypto legislation without changing a single period, after telling the president he needs to sign it to avoid Russian-linked security threats. What to know : Poland's government has reintroduced a cryptocurrency bill that was vetoed by President Karol Nawrocki, with Prime Minister Donald Tusk urging its passage to address national security concerns linked to Russia and former Soviet states. The Cryptoasset Market Act aims to align Poland's regulations with the EU's Markets in Crypto-Assets regime, providing a unified framework for crypto oversight. President Nawrocki vetoed the bill, citing concerns over stringent regulations that he believes threaten the freedom and stability of Polish citizens. Read full story Latest Crypto News Bitcoin Plunges Below $90K as AI Worries Drag Nasdaq, Crypto Stocks Down 36 minutes ago Pakistan, Binance Sign MOU to Explore Tokenization of $2B in State Assets: Reuters 38 minutes ago Prediction Markets Are Coming to Phantom's 20M User Via Kalshi 1 hour ago Most Influential: Changpeng “CZ” Zhao 1 hour ago Most Influential: Tom Lee 1 hour ago Most Influential: Jesse Pollak 1 hour ago Top Stories Most Influential: Tom Lee 1 hour ago U.S. SEC Gives Implicit Nod for Tokenized Stocks 4 hours ago Crypto Markets Today: Bitcoin Stuck in Post-Fed Range as Altcoins Slump Deepens 5 hours ago Ripple Payments Lands First European Bank Client in AMINA 4 hours ago YouTube Now Allows U.S. Content Creators to Get Paid in PayPal’s Stablecoin: Fortune 4 hours ago Bitcoin's Volatility Meltdown: Crypto Daybook Americas 4 hours ago