Crypto.com has received conditional approval from the Office of the Comptroller of the Currency to establish a national trust banking charter, marking another major step in the convergence of cryptocurrency and federally regulated finance. Operating as Foris Dax National Trust Bank, the platform would be authorized to provide digital asset custody, trade settlement, and asset staking under OCC supervision—pending final approval. CEO Kris Marszalek framed the move as a milestone toward offering institutions a federally supervised custodian for digital assets, signaling that crypto is no longer content to operate on the fringes of the financial system.

Crypto.com is not alone. Coinbase, Circle, Ripple, and Paxos have all pursued similar regulatory pathways, while World Liberty Financial—reportedly tied to President Trump—has also sought a charter. Traditional banking institutions have voiced concern, calling for greater transparency and caution. Meanwhile, lawmakers are locked in debate over the proposed Clarity Act, which aims to define oversight standards for digital assets and stablecoins. The trajectory is unmistakable: cryptocurrency is steadily moving from decentralized rebellion to centralized integration within the formal banking framework.

SOURCE: Mugglehead