Crypto.com pushes for federal footing with US trust bank charter application

If approved, the charter would allow the crypto exchange to offer federally regulated custody and trust services in the United States.

Crypto.com is the latest crypto company to apply for a US National Trust Bank Charter, seeking federal approval to expand its custody and staking services nationwide.

In a Friday announcement, the Singapore-based crypto exchange said it plans to provide federally regulated custody services for digital asset treasuries, exchange-traded funds (ETFs), and other institutional and corporate clients under the US banking framework overseen by the Office of the Comptroller of the Currency (OCC).

A National Trust Bank Charter is a federal license from the OCC that lets a company operate as a limited-purpose trust bank. Instead of taking deposits or making loans, a trust bank focuses on holding, managing and safeguarding assets for clients.

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