Crypto.com joins Ripple and Coinbase in bid to secure US banking license
A wave of digital asset firms seek national trust charters to streamline operations and broaden services under federal oversight.
Key Takeaways
- Crypto.com has filed for a national trust bank charter in the US.
- This move would allow Crypto.com to offer trust and custody services nationwide under federal regulation.
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Crypto.com, a cryptocurrency exchange platform, has filed for a national trust bank charter, aiming to expand its regulated custody and staking services under federal oversight.
The federal license would enable Crypto.com to provide trust and custody services nationwide without requiring state-by-state approvals. A national trust bank charter allows firms to operate under unified federal oversight rather than navigating individual state regulations.
Cryptocurrency firms are applying for these charters to leverage friendlier regulations under President Trump, aiming to integrate crypto with traditional banking services.
Other crypto platforms have recently submitted similar applications. Coinbase and Ripple filed for national trust bank charters to enhance their payment and settlement capabilities nationwide.
