If approved, the charter would allow the crypto exchange to offer federally regulated custody and trust services in the United States.
Crypto.com is the latest crypto company to apply for a US National Trust Bank Charter, seeking federal approval to expand its custody and staking services nationwide.
In a Friday announcement, the Singapore-based crypto exchange said it plans to provide federally regulated custody services for digital asset treasuries, exchange-traded funds (ETFs), and other institutional and corporate clients under the US banking framework overseen by the Office of the Comptroller of the Currency (OCC).
A National Trust Bank Charter is a federal license from the OCC that lets a company operate as a limited-purpose trust bank. Instead of taking deposits or making loans, a trust bank focuses on holding, managing and safeguarding assets for clients.