Crypto exchange Crypto.com has filed a national trust bank charter application with the Office of the Currency Comptroller (OCC), the firm announced on Friday. The application puts the firm on a growing list of crypto companies—like USDC issuer Circle, crypto exchange Coinbase, and Bridge, the stablecoin arm of private payments company Stripe—which have also sought the national bank charter. “Building the Crypto.com product and service portfolio through regulated and secure offerings has been our focus sin ...

Core Insights - Crypto.com has filed an application with the OCC for a National Trust Bank Charter, aiming to expand its custody business rather than operate as a traditional bank [1][2][3] - The potential federal regulatory approval could attract more institutional clients to its custody solutions and enable new staking options [1][4] - The community has shown cautious optimism regarding the banking license, as evidenced by a brief spike in the value of its CRO token following the announcement [5][6] Company Strategy - The CEO of Crypto.com emphasized the focus on building a regulated and secure product and service portfolio, indicating a strategic shift towards custody services [2][3] - The company aims to leverage its new custody role to offer additional services, such as token staking across multiple blockchains [4] Market Context - The OCC has become more crypto-friendly, allowing banks to custody digital assets, which may increase the likelihood of Crypto.com obtaining the banking license [6] - The trend of crypto-native firms seeking banking charters is growing, with other companies like Ripple and Coinbase also pursuing similar paths [2][6]

🚨UPDATE: @RIPPLE LAUNCHES RIPPLE PRIME FOLLOWING ACQUISITION OF HIDDEN ROAD, BECOMING FIRST CRYPTO FIRM TO OPERATE GLOBAL MULTI-ASSET PRIME BROKER ...

⚡️ INSIGHT: CZ’s presidential pardon isn’t a clean slate.It's a seal on his conviction, paving the way for a flood of civil lawsuits against Binance.Is this the crypto industry’s reckoning or a dangerous precedent undermining justice? https://t.co/LORHSp3fgl ...

A Vancouver-registered crypto firm, Cryptomus, has been fined $126 million for failing to report thousands of high-risk transactions tied to child abuse, ransomware, and Iran-linked transfers.Read more: https://t.co/VVOE9AlCtP ...

Fireblocks buys crypto authentication startup Dynamic, completing its offerings from 'custody to consumer' https://t.co/K9r5AKy2IR ...

Revolut is set to roll out its crypto services across the EU after securing a licence under the trading bloc’s Markets in Crypto-Assets regulation. On Wednesday, the UK challenger bank announced it had obtained its MiCA licence from the Cyprus Securities and Exchange Commission. “It’s no secret that we have ambitious plans for the crypto sector in the future, and our MiCA license is fundamental to all of that,” Costas Michael, CEO of Revolut Digital Assets Europe, said in a statement shared with DL News. ...

Even as some workers leave crypto for AI, demand for blockchain engineers remains strong and increasingly well rewarded. | Credit: Pexels Key Takeaways Around 1,000 crypto jobs have shifted to AI since the launch of ChatGPT. Despite the talent drain, developer demand remains strong across Ethereum, Solana, and Layer 2 ecosystems. The London School of Economics ranked blockchain engineers seventh among the UK’s highest-paying tech jobs. AI is drawing talent away from the crypto industry, according ...

The Federal Reserve has opened a discussion on a new entry point for payment firms. On October 21, Governor Christopher Waller described a potential “payment account” that would grant basic access to Fed payment services while limiting features that belong to full master accounts. The concept lands at a moment when market structure matters more than slogans. A narrow door into Fedwire and ACH could change who can move dollars directly, and it could shape how stablecoin issuers and tokenized funds settle f ...

Crypto firm Xeltox Enterprises received the largest penalty on record from Canada’s anti-money-laundering agency for allegedly breaching the rules on suspicious transactions thousands of times in a single month https://t.co/cAHVrxCH7K ...