Crypto.com is seeking national trust bank status in the US to expand its services and access to the Federal Reserve system.

Major international crypto exchange Crypto.com has taken a new step in developing its infrastructure in the US by applying to the Office of the Comptroller of the Currency (OCC) for national trust bank status. According to the exchange’s management, obtaining this license is a strategic element of the company’s long-term expansion in the US market and will allow it to elevate the quality of its services to an institutional level.

Crypto.com CEO Kris Marszalek noted that the company is following in the footsteps of key industry players such as Circle, Coinbase, and Bridge, which have already filed similar applications with the OCC. This move, he said, confirms Crypto.com’s commitment to operating within a strict regulatory framework and complying with US financial security standards.

Regulated trust bank status offers the company a number of advantages. First and foremost, it will allow Crypto.com to officially custody the crypto assets of institutional clients, which is especially important for large companies, hedge funds, and traditional financial institutions. Furthermore, obtaining approval will enable more efficient management of its own reserves and provide direct access to Federal Reserve accounts. This will eliminate the need for intermediaries and improve the reliability and speed of payments.

If the OCC approves the application, Crypto.com will be able to significantly expand its range of custodial products. Specifically, the platform will be able to manage instruments such as Treasury bonds and digital ETF derivatives. This will strengthen the exchange’s position in the institutional services market and establish it as a major provider of digital infrastructure for traditional finance.

It’s worth noting that Coinbase previously called on US regulators to allow banks and other financial institutions to fully interact with crypto companies. Against this backdrop, Crypto.com’s request reflects the trend toward the gradual convergence of the crypto industry with the traditional financial system.