Crypto.com has announced its application for a banking license with the U.S. Office of the Comptroller of the Currency (OCC). This move reflects the company’s ambition to strengthen its position in the financial services market for institutional clients and professional investors in the U.S.
This is reported by Finway
Purpose of Obtaining a Banking License
According to representatives of Crypto.com, obtaining a banking license will enable the company to expand the range of custodial services offered to corporate clients. This includes the storage and staking of digital assets across various blockchains and protocols, including the Cronos platform. The license will also open up opportunities to provide services at the federal level and enhance Crypto.com’s position in the custodial storage of digital assets for ETFs, corporate treasuries, and other institutional clients.
Impact on Subsidiaries and the Market
The company noted that the application does not affect the operations of its subsidiary, Crypto.com Custody Trust Company. This company will continue to operate as a licensed custodian under the supervision of the New Hampshire banking department.
“Building Crypto.com products and services through regulated and secure solutions has been our priority from day one. We are excited to take this next step by applying for the license,” commented co-founder and CEO Kris Marszalek.
It is worth noting that in July 2025, a similar application for a banking license in the U.S. was submitted by Ripple Labs, reflecting the growing interest of leading market players in the legalization and expansion of financial services for institutional clients in the United States.