Paxos, Fidelity, Ripple, BitGo, and Circle secure US trust bank approvals

cointelegraphPublished on 2025-12-12Last updated on 2025-12-12

Abstract

The US Office of the Comptroller of the Currency (OCC) has conditionally approved five national bank charter applications from companies in the digital assets sector. BitGo, Fidelity, and Paxos received approval to convert their existing state-level trust companies into federally chartered national trust banks. Additionally, Circle and Ripple were conditionally approved for new national trust bank charters. The Comptroller of the Currency, Jonathan Gould, stated that new entrants into the federal banking system benefit consumers, the industry, and the economy, emphasizing the OCC's commitment to supporting both traditional and innovative financial services.

The US Office of the Comptroller of the Currency has conditionally approved five national bank charter applications for companies tied to the digital assets industry.

In a Friday notice, the OCC said it had conditionally approved BitGo, Fidelity, and Paxos to convert their existing state-level trust companies into federally chartered national trust banks. In the same announcement, the regulator said it had conditionally approved new applications from Circle and Ripple for national trust bank charters.

“New entrants into the federal banking sector are good for consumers, the banking industry and the economy,” said Jonathan Gould, the Comptroller of the Currency, adding: “The OCC will continue to provide a path for both traditional and innovative approaches to financial services to ensure the federal banking system keeps pace with the evolution of finance and supports a modern economy.”

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This is a developing story, and further information will be added as it becomes available.

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cointelegraph41m ago

Strategy survives first Nasdaq 100 shakeup since entering the index

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$300M wiped out – Could BOJ rate hike fears spark a crypto crash?

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