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Crypto.com said on Feb. 23, 2026 that it had received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter, naming the entity Foris DAX National Trust Bank, doing business as Crypto.com National Trust Bank. Reuters, citing the company, reported the charter would position Crypto.com as a federally regulated custodian able to provide custody and trade settlement services, while not permitting the bank to take cash deposits or make loans.
OCC public records show a charter filing for “FORIS DAX NATIONAL TR BANK” with control number 2025-Charter-343659 and a listed headquarters address in Chicago, Illinois. In its announcement, Crypto.com said the proposed national trust bank would provide custody, staking across multiple blockchains (including Cronos), and trade settlement as a federally regulated institution once fully approved.
Crypto.com also said the OCC’s conditional approval has no impact on the ongoing operations of Crypto.com Custody Trust Company, which it described as a qualified custodian regulated as a non-depository trust company by the New Hampshire Banking Department.
Under OCC rules, approvals may be issued on a conditional basis, with the agency able to impose conditions and require specified steps before an applicant may proceed to final authorization. In other national trust bank charter decisions, the OCC has framed “preliminary conditional approval” as distinct from “final approval and authorization to commence business,” which is typically withheld until preopening requirements are satisfied and may be modified or rescinded prior to final action.
The decision also sits alongside ongoing OCC work on the boundaries of national bank chartering for trust-focused institutions. In January 2026 the OCC proposed amendments to its chartering regulation to better align with statutory authority to charter national banks limited to “operations of a trust company and activities related thereto”, and separately summarized the proposal in a supervisory bulletin. In parallel, the OCC has publicly noted other conditional approvals for national trust bank applications in late 2025 involving digital-asset-focused firms, and Reuters reported on Feb. 17, 2026 that Stripe’s crypto unit Bridge obtained conditional OCC approval to establish a national trust bank.
For tokenized-asset and broader RWA markets, the practical relevance is that a national trust bank charter—if it proceeds to final authorization—can provide a federally supervised legal wrapper for custody and settlement services that issuers, platforms, and institutional clients may require for regulated workflows; at this stage, however, Crypto.com’s announcement describes only conditional approval and does not disclose specific preopening conditions, while Reuters noted the charter’s limits on deposit-taking and lending.
