Crypto.com wins initial approval for U.S. federally regulated crypto custodian bank

The national trust charter institution would consolidate custody services under a single framework under federal oversight. What to know : Crypto.com received conditional U.S. approval to establish Foris Dax National Trust Bank, enabling expanded custody and digital asset services under federal oversight. The national charter would consolidate custody services under a single framework under federal oversight. Crypto.com joins a growing list of firms, including BitGo, Circle, Ripple, and Paxos, that have received conditional approvals for national trust bank charters in recent months.