Crypto.com has achieved a significant milestone by obtaining conditional approval from the Office of the Comptroller of the Currency (OCC) to form a national trust bank charter in the United States. This approval is designated for Foris Dax National Trust Bank, which will operate under the name Crypto.com National Trust Bank (d.b.a.). The entity is intended as a limited-purpose national trust bank specifically focused on digital assets, distinguishing it from traditional banking institutions.
Once fully authorized, the bank will offer a range of services, including federally regulated custody for digital assets, staking capabilities across various blockchains such as Crypto.com“s Cronos network, trade settlement, and other qualified custodian functions. This move is strategically designed to provide institutional clients with a comprehensive “one-stop-shop” under federal oversight.
Importantly, the newly established bank will not accept cash deposits or issue loans, setting it apart from conventional banks. Instead, it will operate under the direct supervision of the OCC, offering a consistent federal framework as opposed to a fragmented approach dictated by state-level regulations.
This approval aligns with a growing trend where other firms have also received similar conditional approvals in late 2025 and early 2026. However, Crypto.com must fulfill additional requirements laid out by the OCC, which include capital adequacy, governance structures, risk management protocols, anti-money laundering (AML) controls, and operational resilience before receiving final authorization.
Kris Marszalek, CEO of Crypto.com, characterized this development as a “major milestone,” reflecting the company”s commitment to compliance and establishing itself as a trusted qualified custodian for institutional clients. The implications of this development could enhance the integration of cryptocurrency firms within the traditional financial system under federal regulations, potentially accelerating institutional adoption while enforcing stricter oversight.
The forthcoming federally regulated bank is poised to support a variety of functions, including the custody of digital assets, staking across different blockchains, and trade settlement operations. This means that institutions utilizing the bank as a qualified custodian will have the capability to stake assets on Cronos and other tokens in the ecosystem under a federally regulated framework, which is particularly appealing to risk-averse institutional clients like asset managers, corporate treasuries, or ETF providers.
While this approval does not bring immediate changes, it is essential to note that its conditional nature means Crypto.com“s existing custody operations will remain unchanged for the time being. The new bank will not engage in cash deposits or loan activities. However, federal regulation could attract increased institutional capital to Cronos for staking and related functions, as institutions typically favor federally supervised custodians for compliance and security reasons. This shift could lead to a rise in Total Value Locked (TVL) on Cronos through staked assets or decentralized finance (DeFi) protocols.
Cronos is strategically positioned as a vital component of Crypto.com“s strategy to create a comprehensive service offering for institutional users. The streamlined and compliant staking and settlement processes on Cronos could significantly enhance its attractiveness for high-throughput applications, given that Cronos supports transaction processing speeds capable of handling tens of thousands of transactions per second (TPS).
Some market analyses suggest this could serve as a catalyst for institutional liquidity to flow into the broader Cronos ecosystem. Although the bank charter operates independently from CRO token activities, an increase in custody and staking volumes on Cronos could indirectly bolster network activity, transaction fees, and overall adoption.
The conditional status means that operational changes will not take effect immediately. Cronos staking is already available through Crypto.com“s platforms and other service providers, with any significant increases anticipated only after final approval and the onboarding of institutional clients.
This initiative mirrors a broader trend where crypto firms, including Circle, Ripple, Paxos, BitGo, and Stripe“s Bridge, secure similar charters to seamlessly integrate traditional finance with cryptocurrency under a unified federal regulatory framework. For Cronos, this enhances Crypto.com“s positioning as a compliant, institution-friendly blockchain within its ecosystem. This development signals a positive outlook for Cronos” long-term growth driven by improved access for institutional clients and enhanced staking utility, though the actual impacts are expected to materialize gradually as the charter reaches finalization and clients transition.
