Digital Currency Exchange Crypto.com Receives Federal Banking Charter Approval

Major cryptocurrency platform Crypto.com has obtained preliminary federal approval to operate as a regulated trust bank. The move represents a significant shift toward mainstream acceptance of digital assets under the Trump administration's more favorable regulatory approach.

Digital currency exchange Crypto.com announced Monday that federal banking regulators have granted the company preliminary authorization to operate as a national trust bank, marking a major milestone in the cryptocurrency industry’s push toward mainstream financial services.

The Office of the Comptroller of the Currency issued the conditional charter approval, which positions the digital asset platform to become a federally supervised custodian for client investments.

This development reflects the shifting regulatory landscape under President Trump’s administration, where government agencies have begun reversing previous restrictions and enforcement measures against cryptocurrency businesses.

Under the new charter, Crypto.com would gain authority to safeguard and manage customer assets while processing transaction settlements within federal regulatory oversight. However, the authorization excludes traditional banking services such as accepting cash deposits or issuing loans.

The company stated that upon receiving final approval, it will function as a fully regulated national trust bank under OCC supervision.

Industry experts note that obtaining a national trust bank charter represents a crucial step for cryptocurrency-focused businesses seeking to attract large institutional investors and establish deeper connections with conventional financial institutions.

Established in 2016, Crypto.com operates as a widely-used digital asset trading platform, featuring more than 400 different cryptocurrency tokens for users to buy and sell.