Crypto.com wins initial approval for U.S. federally regulated crypto custodian bank
Analysis
Price Impact
MedCrypto.com's acquisition of a national trust bank charter in the us is a significant step towards regulatory clarity and institutional adoption. this could lead to increased trust and demand for their native token, cro, as well as other digital assets they support. however, the impact is 'medium' as it's an initial approval and institutional adoption takes time.
Trustworthiness
HighThe news comes from a reputable source (coindesk) and involves a federal regulatory body (occ), lending high credibility to the information. the process for obtaining such a charter is rigorous, implying a solid foundation for the approval.
Price Direction
BullishRegulatory approvals and a move towards institutional frameworks generally create a more favorable environment for digital assets. this news positions crypto.com to better serve institutional clients, which can boost demand for cro and the platform's services, potentially driving up its price.
Time Effect
LongWhile there might be a short-term sentiment boost, the real impact of a federal trust charter on price will likely unfold over the long term as crypto.com integrates these services and attracts institutional capital.
Original Article:
Article Content:
Policy Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Crypto.com wins initial approval for U.S. federally regulated crypto custodian bank The national trust charter institution would consolidate custody services under a single framework under federal oversight. By Francisco Rodrigues , AI Boost | Edited by Sheldon Reback Feb 23, 2026, 3:21 p.m. Make us preferred on Google (Jesse Hamilton/Coindesk) What to know : Crypto.com received conditional U.S. approval to establish Foris Dax National Trust Bank, enabling expanded custody and digital asset services under federal oversight. The national charter would consolidate custody services under a single framework under federal oversight. Crypto.com joins a growing list of firms, including BitGo, Circle, Ripple, and Paxos, that have received conditional approvals for national trust bank charters in recent months. Crypto.com said it received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank, setting the stage for the exchange to expand its custody services under federal oversight. The planned Foris Dax National Trust Bank, doing business as Crypto.com National Trust Bank, would operate as a limited-purpose national trust bank. It would not accept deposits or issue loans, instead offering services such as custody, staking and trade settlement for digital assets, including those on its in-house Cronos blockchain. 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 & conditions and privacy policy . While Crypto.com already runs a qualified custodian, Crypto.com Custody Trust Co., regulated by New Hampshire’s banking department, the OCC charter brings its institutional offerings under a single federal framework. That matters for issuers of exchange-traded funds (ETFs), asset managers and other institutional clients, who often prefer custodians with national oversight, which can streamline compliance and operational processes. The national charter offers that one-stop-shop structure, though only for trust services, not for traditional banking. Crypto.com filed its application with the OCC in October. While conditional approval is not final, it marks a significant step forward. Last week, Striple’s stablecoin firm Bridge won initial approval to form a national trust bank as well. These approvals see the firms join a growing group of crypto firms looking to build within a federal framework. In December BitGo, Circle, Ripple, Paxos, and Fidelity Digital Assets all received similar conditional approvals. Crypto.com OCC AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk's full AI Policy . More For You KuCoin told to halt new EU business due to compliance staffing shortfalls By Ian Allison 5 hours ago Austria's financial regulator said KuCoin EU must appoint an anti-money-laundering officer and deputy officer, as well as a sanctions compliance officer and deputy. What to know : The Austrian regulator said KuCoin EU no longer has suitable key function holders for anti-money laundering, terrorist financing compliance and financial sanctions roles. The FMA granted KuCoin approval under the Markets in Crypto Assets regime in November. Read full story Latest Crypto News Anthony Pompliano led Procap Financial dips toe into buybacks 7 minutes ago Elliptic flags Russia-linked crypto platforms’ ongoing sanctions evasion 41 minutes ago CoinDesk 20 performance update: AAVE gains 1.7% while index trades lower over weekend 1 hour ago BitMine Immersion added $98 million of ether last week as losses balloon to more than $8 billion 1 hour ago U.S. Treasury may boost T-Bill issuance as stablecoins eye $2 trillion market cap: StanChart 1 hour ago Pantera leads $11.5M round in Based, a Hyperliquid-powered crypto app 1 hour ago Top Stories Bitcoin stabilizes after overnight crypto rout, bouncing to $66,000 3 hours ago Strategy logs 100th bitcoin purchase announcement, adding 592 coins last week for $39.8 million 2 hours ago Bitcoin ETFs bleed $3.8 billion in historic five-week outflow streak 10 hours ago Ethereum's cofounder Vitalik Buterin sells more ether while prices continues to slide 5 hours ago To freeze or not to freeze: Satoshi and the $440 billion in bitcoin threatened by quantum computing 23 hours ago Tariff travails resurface, bitcoin holders prepare for declines 3 hours ago