The U.S. Office of the Comptroller of the Currency (OCC) has granted conditional approvals that could allow major digital-asset firms to operate under federal trust bank charters, signaling a significant step toward integrating crypto with regulated banking.
The Office of the Comptroller of the Currency (OCC) in the United States has conditionally approved applications from five prominent digital-asset companies — including Circle and Ripple — to establish national trust bank charters, a move that could reshape how cryptocurrency firms operate within the formal banking framework.
Announced on December 12, 2025, the conditional charters give these firms the opportunity to become federally supervised trust banks, providing services such as crypto custody, asset settlement and payment operations under a single national regulatory regime rather than navigating a patchwork of state licenses. Circle’s charter will enable it to form the First National Digital Currency Bank, while Ripple’s charter will establish Ripple National Trust Bank, among others approved in the round.
A regulatory milestone for crypto and the U.S. banking system
Unlike traditional commercial banks, these national trust banks are not authorized to take deposits or issue loans, but they can provide vital financial infrastructure services that align with blockchain-based asset management and institutional custody functions. This structural shift aims to reduce compliance complexity for crypto firms and establish federal regulatory clarity at a time when institutional interest in digital assets continues to grow.
The approvals come with conditions: the firms now have a defined period — typically 18 months — to satisfy capital requirements, build compliant operational infrastructure, and undergo a final OCC review before full charter activation. This development reflects a broader policy direction that seeks to bring digital-asset companies deeper into the regulated financial system, creating a standardized rulebook that could boost confidence for institutional clients and position crypto firms as competitive players in regulated markets.
Reactions have been mixed. Proponents emphasize the regulatory progress and potential for innovation, while some traditional banking groups have voiced concerns that these charters could extend bank-like privileges to non-bank entities without equivalent oversight.
