Crypto.com Wants to Become A Real Life Bank: Here’s There Plan

Crypto.com has submitted its application to become a national trust bank. The Office of the Comptroller of the Currency (OCC) will regulate it. They still need to approve the application; however, if it goes through, it would allow Crypto.com to operate as a federally regulated trust bank.

This will enable Crypto.com to offer a range of crypto-related financial services across the US without needing individual state licenses. Moreover, with a trust bank license, Crypto.com will be able to offer its services under federal supervision, without becoming a fully commercialized bank, which comes with its own set of complex rules and responsibilities.

According to its application, Crypto.com wants to establish the new entity under the name, Crypto.com Trust. The entity will be headquartered in Washington DC and will serve its purpose as a wholly owned subsidiary of Crypto.com’s parent company, Forix Dax.

Excited to announce that https://t.co/bbHWVWCATn has filed a National Trust Bank Charter application.

This is our is the latest step in building product and service portfolio through regulated and secure offerings.

More information at: https://t.co/HQhHZC9LX8

— Eric Anziani (@ericnode) October 24, 2025

According to the exchange, the trust bank will focus on providing “secure and compliant crypto-native financial services,” including custody, settlement and management for digital assets.

Meanwhile, Crypto.com has stated that obtaining a US banking license aligns with its broader strategy to expand within the US. Kris Marszalek, Co-Founder and CEO of Crypto.com said, “We are committed to working with regulators to advance responsible innovation and bring the benefits of digital assets to more people.”

If the license is approved, operationally, things will become significantly more streamlined for the exchange. No more dealing with red tapes. Moreover, it would also enable Crypto.com to serve a broader range of clients, including fintech startups, investment funds, and others.

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Crypto.Com Bank Application: Quest To Go Legit Without Red-Tapism

Crypto firms like Anchorage Digital have already received approval for their applications from the OCC, indicating that regulators are slowly warming up to the idea of crypto companies working with the traditional banking system.

If Crypto.com achieves its license, it will join a small group of crypto-native companies that aim to connect Decentralized Finance (DeFi) with the rules and safeguards that regulated banks provide as safety precautions.

Furthermore, this also reflects a broader industry trend in the crypto landscape. As this industry grows and matures, crypto-native companies are seeking clearer and more streamlined legal roadmaps to operate, thereby avoiding unnecessary bureaucratic hurdles. Continuing in the same vein, these companies also want to offer new and innovative products, but within the framework that regulators understand.

In the meantime, the OCC hasn’t made any public statement about Crypto.com’s application.

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Crypto.Com’s Broader Global Expansion Plans

Over the last couple of years, Crypto.com has been investing heavily in expanding across the crypto hotspots in the world. Recently, it partnered with the South Korean fintech called Travel Wallet, which helps travelers manage and exchange funds digitally.

The two companies signed a memorandum of understanding (MoU) according to which Trust Wallet will become Crypto.com’s official card partner in South Korea. They plan to jointly launch a prepaid card that allows users to spend both fiat and crypto anywhere in the world.

https://t.co/vCNztATkNg has signed a Memorandum of Understanding with Travel Wallet to expand digital payment and cryptocurrency services in South Korea.

Read more https://t.co/wQBl6LMnTq pic.twitter.com/b4XtClhmM6

— Crypto.com (@cryptocom) October 21, 2025

Travel Wallet already supports more than 40 wallets as of now, and crypto is the logical next step. Travel Wallet’s app will integrate Crypto.com’s services where users will be able to buy and sell crypto directly without having to leave the app.

Promotion of Trust Wallet’s won-backed stablecoin is also on the cards.

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