Crypto.com has become the first cryptocurrency exchange to receive conditional approval for a U.S. National Trust Bank Charter from the Office of the Comptroller of the Currency (OCC). This milestone allows Crypto.com to offer federally regulated custodial services, including custody, staking, and trade settlement, as a National Trust Bank. The exchange is already licensed as a nondepository trust company in New Hampshire, enabling it to operate as a Qualified Custodian. The OCC's decision to grant conditional charters to crypto firms has faced criticism from traditional banks, with the American Bankers Association urging a slowdown in approvals. Despite this, Crypto.com CEO Kris Marszalek emphasized the exchange's commitment to compliance and trusted service, highlighting the approval as a significant step towards meeting institutional needs. Other crypto firms like Ripple, Circle, and Paxos have also received similar conditional charters, with more applications pending.