Crypto custodian BitGo said Friday it has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to become a national trust bank.

Once finalized, the conversion from its current South Dakota trust charter will allow BitGo to offer custody and regulated digital asset services nationwide without state-by-state approvals.

The federal charter would also expand BitGo’s ability to serve institutions with trading, staking, stablecoin, and treasury services.

BitGo is one of several firms preparing to go public. The company filed an S-1 with the SEC in September, revealing $4.19B in revenue for the first half of 2025, up from $1.12B during the same period in 2024.