Crypto.com Applies for Federal Custody License
Crypto.com is making a direct play for the institutional custody market by applying for a federal trust charter from the OCC. The license is key to its strategy of becoming the “destination of choice” for Digital Asset Treasuries, ETFs, and other large-scale investors.
By joining the list of federally chartered crypto trusts like BitGo and Circle, Crypto.com aims to bolster its credibility and expand its service offerings, including advanced custody and staking on its Cronos blockchain and other networks. This regulatory push occurs amid a heated volume race with Coinbase, with Crypto.com holding a lead in recent months.
The application highlights the intensifying competition among crypto giants to secure the trust—and assets—of traditional finance as digital assets become more integrated into the mainstream financial system.
