Crypto.com Files National Trust Bank Charter Application with US OCC

Crypto.com Seeks US National Trust Bank Charter

Crypto.com has filed a National Trust Bank Charter application with the US Treasury's Office of the Comptroller of the Currency (OCC).
The approval process typically takes 12-18 months, during which the OCC will evaluate Crypto.com's compliance with charter requirements.
If approved, Crypto.com would operate under US federal jurisdiction, bypassing varying state laws.
The announcement led to a brief rise in Crypto.com's Cronos (CRO) price, peaking at $0.0153 before settling at $0.0146.

Crypto.com's CRO coin saw a brief rise on Oct. 24 upon announcing its OCC applications | Source: CoinMarketCap.

Global Expansion Efforts

Crypto.com recently gained In-Principal approval from the Central Bank of the UAE for operations as a licensed Stored Value Facility.
This marks it as the first Virtual Asset Service Provider in the UAE to receive such recognition.

Trend of Crypto Firms Seeking Banking Charters

Several cryptocurrency firms are applying for OCC banking charters due to favorable regulatory shifts in the US.
Coinbase, BitGo, Circle, Paxos, and Ripple have also filed for US banking charters to streamline oversight and integrate digital assets into traditional finance.