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OCC Approves Five Crypto-Related National Trust Bank⁣ Applications

The Office of the ‍Comptroller of the Currency (OCC) of the United States, the entity in charge of regulating and supervising both national and federal banks, approved on December 12, ⁤2025, five applications for the establishment of national trust banks.

As reported in the official publication of the organization, the⁣ approval was awarded ⁤to five companies linked to the bitcoin (BTC) sector and other cryptocurrencies. These are BitGo, Fidelity Digital Assets, Paxos, ‍Ripple, and ⁤First National Digital ⁣Currency Bank.

As ⁢detailed in the OCC statement, the applicants passed a review based on legal and regulatory criteria. Based on this, they are allowed to offer custody and other services with cryptocurrencies, excluding the offer of insured deposits or loans.

In this way, Fidelity Digital Assets and Paxos Trust Company receive conditional authorization to become national trust banks. While Ripple National Trust Bank and First National Digital Currency Bank receive a status of novo (new banks or⁣ neobanks).

The Comptroller of the‍ Currency, Jonathan V. Gould, spoke on this topic, for whom ⁤”new participants in the federal banking sector⁤ are⁣ beneficial for consumers,⁤ the banking industry, and the economy.”

The OCC will ⁢continue to provide an avenue for traditional and innovative ‌approaches to financial services to ensure the federal banking system keeps pace with evolving finances ⁣and supports a modern economy.

Jonathan V. ​Gould.

The above means that the five institutions join around 70‌ other