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U.S. National Banking Regulator Grants Trust Charters to Five Crypto Banks
BitGo, Circle, Fidelity, Paxos, and Ripple have all received national trust bank charters.
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In its latest digital asset-friendly banking regulatory announcement, the Office of the Comptroller of the Currency (OCC) has granted national trust bank charters to entities associated with BitGo, Circle, Fidelity Digital Assets, Paxos, and Ripple.
What's the Scoop?
- Bulk Approval: OCC has "conditionally" approved national bank trust charters for BitGo Bank & Trust, NA; First National Digital Currency Bank, NA (Circle); Fidelity Digital Assets, NA; Paxos Trust Company, NA; and Ripple National Trust Bank. Until final approval is granted, the OCC retains the right to modify, suspend, or rescind this conditional approval.
- Trust Banks: Approved banks will be "trust companies," a special type of banking entity that is limited to custody activities which does not engage in risky lending or fractional-reserve banking.
- Exiting Offering: There are more than 60 other national trust banks currently supervised by the OCC, including Anchorage Digital, the first federally chartered crypto trust bank.
Today's announcement reaffirms the OCC's role in fostering innovation in the federal banking system, without compromising safety and soundness. These institutions would join the 60 other national trust banks supervised by the OCC. WE ARE SO BACK. pic.twitter.com/fAghTAh726
— Comptroller Jonathan Gould (@USComptroller) December 12, 2025