- Crypto.com filed for a National Trust Bank Charter to expand custody services for institutional clients.
- The move allows Crypto.com to offer secure digital asset storage and token staking across blockchains.
- CRO token saw a brief price increase reflecting investor interest after the federal charter announcement.
Crypto.com applied to the Office of the Comptroller of the Currency (OCC) to receive a U.S. National Trust Bank Charter. The company does not intend to be a conventional bank.
Rather, it seeks to develop its custody services and other products for institutional customers. The filing is an indication of a strategic move towards enhancing the digital asset management and attracting professional investors.
Expanding Custody Services
The application seeks federal approval to provide regulated custody solutions for digital assets. This includes services for corporate treasuries, exchange-traded funds, and other institutional investors. By obtaining the charter, Crypto.com intends to offer secure storage and management of crypto holdings.
The move also opens opportunities to extend token staking across multiple blockchain networks, including the native Cronos chain. Existing services under Crypto.com Custody Trust Company remain operational and continue serving clients independently.
Market Response and Investor Interest
Cronos (CRO) token temporarily increased in price after the announcement. It was trading at $0.1464, and it reached a high of nearly $0.149 intraday. The temporary spike is a measure of the early investor confidence concerning the regulatory aspirations of the company.
Analysts suggest that federal approval could make Crypto.com more attractive to digital asset treasury firms. Investors are monitoring the company’s next steps to assess how it leverages potential new regulatory status.
Industry Trends and Regulatory Alignment
Crypto.com joins other crypto firms like Ripple, Circle, and Coinbase that have applied for similar federal banking licenses. This trend shows digital asset companies seeking closer integration with traditional financial systems. The U.S. crypto sector is increasingly aligning with federal banking standards. Trump Media recently let Truth Social users convert gems into CRO tokens through the Crypto.com wallet with the Patriot Package.
Regulators are exploring market structure bills to define clearer rules for digital assets. Federal charters may allow these companies to operate under the same oversight as traditional banks. The OCC’s decision will determine how soon Crypto.com can begin offering federally regulated custody services.
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