Crypto.com Seeks National Bank Trust Charter Amid Regulatory Developments
- Crypto.com has filed an application with the Office of the Currency Comptroller (OCC) for a national bank trust charter.
- The firm joins other crypto companies such as Circle, Coinbase, and Bridge in seeking this charter.
- National banks can now custody crypto, potentially benefiting from upcoming regulations like expedited “skinny” master accounts.
- Federal Reserve Governor Christopher Waller mentioned exploring “skinny master accounts” for firms lacking full access to the Fed.
- Peter Thiel-backed Erebor recently became the first to earn a conditional federal charter this month, following Anchorage Digital.
Crypto.com is advancing its regulatory strategy by applying for a national bank trust charter, joining major industry players like Circle and Coinbase in this pursuit. This move aligns with broader regulatory trends allowing banks to manage crypto assets and hints at potential benefits from new regulations such as “skinny” master accounts.
If approved, Crypto.com’s charter application could enhance its position as a leading custody service provider, reflecting the industry’s ongoing efforts to integrate more fully into traditional financial systems. Source
