Key Notes
- The Singapore-based platform seeks federal oversight to avoid fragmented state-level banking regulations across America.
- Approval would position Crypto.com alongside rivals like Coinbase, BitGo, and Ripple pursuing similar US banking licenses.
- CRO token briefly jumped 2% to $0.0153 following the announcement before stabilizing at lower levels.
Crypto.com, a digital assets trading platform headquartered in Singapore, announced on Oct. 24 that it had officially filed a National Trust Bank Charter application with the US Treasury’s Office of the Comptroller of the Currency (OCC).
The regulatory process for approval typically takes between 12 and 18 months for preliminary operational authorization. During this time, Crypto.com will be evaluated by the OCC to ensure it meets the minimum requirements for the charter.
If approved, Crypto.com would see its regulated banking operations fall under US federal jurisdiction and, ostensibly, would no longer be subject to splintered, disparate state laws covering the same banking services.
https://t.co/vCNztATkNg has filed a National Trust Bank Charter application with the @USOCC.
Read more 👉 https://t.co/4ZK05VeKiv pic.twitter.com/kLd45IpeEe
— Crypto.com (@cryptocom) October 24, 2025
The firm has sought rapid global expansion throughout 2025, having just recently secured In-Principal approval from the Central Bank of the United Arab Emirates (CBUAE) for its Foris DAX Middle East FZ-LLC to operate as a licensed Stored Value Facility, making it the first Virtual Asset Service Provider (VASP) in the UAE to achieve this recognition.
Crypto.com’s Cronos
CRO
$0.15
24h volatility:
1.7%
Market cap:
$5.29 B
Vol. 24h:
$29.95 M
appears to have risen on the news, peaking at $0.0153 upon the announcement, up more than 2% over the previous 24 hours, before settling back down to $0.0146 as of the time of this article’s publication.
Crypto.com’s CRO coin saw a brief rise on Oct. 24 upon announcing its OCC applications | Source: CoinMarketCap.
Crypto Firms Expand Into Banking
Numerous cryptocurrency firms have taken advantage of the recent regulatory shift towards digital assets in the US by filing for OCC banking charters.
As Coinspeaker reported, Coinbase filed for its charter on Oct. 4, hoping to “streamline oversight for new offerings and enable continued innovation to integrate digital assets into traditional finance.” Meanwhile, BitGo, Circle, Coinbase, Paxos, and Ripple also seek US banking charters.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Tristan is a technology journalist and editorial leader with 8 years of experience covering science, deep tech, finance, politics, and business. Before joining Coinspeaker, he wrote for Cointelegraph and TNW.