OCC grants Crypto.com conditional approval for bank trust charter
While Coinbase and others await decision on their applications, the federal banks regulator has already signaled friendliness to crypto companies through several conditional approvals.
Crypto.com said Monday that it has secured conditional approval for a national bank trust charter from the US Office of the Comptroller of the Currency (OCC).
In a Monday statement, the cryptocurrency exchange said that once fully approved as a federally regulated institution, it would be established to operate as a custodian across the US, subject to OCC oversight. The company submitted its application in October, saying at the time that it planned to provide custody services for digital asset treasuries, exchange-traded funds, and others.
“This conditional approval is the latest testament to both our commitment to compliance and to providing customers trusted and secure services they expect from Crypto.com,” said Crypto.com co-founder and CEO Kris Marszalek.