Crypto.com Applies for U.S. Banking License as It Expands Custody Ambitions

Crypto.com has filed an application with the U.S. Office of the Comptroller of the Currency (OCC) in a bid to secure a banking license — a move that could dramatically expand its reach across the country. The company says the new status would help it scale custody services for institutional clients, corporate treasuries, ETFs, and professional investors, including the ability to store and stake digital assets across multiple blockchains such as Cronos. Why the License Matters for Crypto.com If approved, the banking license would allow Crypto.com to operate at the federal level, unlocking broader access to the U.S. market and strengthening its position in the fast-growing crypto custody segment. Custody has become one of the most competitive sectors in digital finance as more institutions seek secure, regulated solutions for token storage and staking. “Building Crypto.com's products and services through regulated and secure solutions has been our priority since day one. We're excited to take this next step,” said co-founder and CEO Chris Marszalek. Institutional Push Continues Crypto.com emphasized that the filing will not affect its existing subsidiary, Crypto.com Custody Trust Company, which remains fully operational under New Hampshire banking oversight. The move mirrors a growing industry trend. Ripple Labs made a similar filing in July 2025, underscoring how major crypto firms are accelerating their shift into traditional finance lanes. Securing a banking license would mark one of the most significant milestones in Crypto.com’s U.S. expansion and strengthen its message to regulators, investors, and institutions: crypto platforms want to be part of the regulated financial system, not outside it. With institutional crypto adoption climbing and ETF momentum accelerating, timing could hardly be more strategic.