OCC Issues Conditional National Trust Bank Charters to Five Major Crypto Firms in December 2025

On December 12, 2025, the U.S. Office of the Comptroller of the Currency conditionally granted national trust bank charters to entities tied to BitGo, Circle, Fidelity Digital Assets, Paxos, and Ripple. These institutions will operate as trust banks focused on custody services, joining more than 60 existing national trust banks already overseen by the regulator. The OCC retains authority to amend, suspend, or revoke the conditional approvals before they become final.