• 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. • 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.
Article Summaries:
- Crypto.com has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish Foris Dax National Trust Bank, a limited‑purpose national trust bank that will operate as Crypto.com National Trust Bank. The new charter will allow the firm to offer custody, staking and trade‑settlement services for digital assets under a single federal framework, without accepting deposits or issuing loans. The approval consolidates Crypto.com’s existing qualified custodian services-already regulated by New Hampshire-into one federally overseen entity, potentially easing compliance for institutional clients such as ETF issuers and asset managers. Crypto.com joins a growing list of crypto firms, including BitGo, Circle, Ripple, Paxos and Fidelity Digital Assets, that have received similar conditional national trust bank approvals.
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