Crypto.com said it received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank, setting the stage for the exchange to expand its custody services under federal oversight.

The planned Foris Dax National Trust Bank, doing business as Crypto.com National Trust Bank, would operate as a limited-purpose national trust bank. It would not accept deposits or issue loans, instead offering services such as custody, staking and trade settlement for digital assets, including those on its in-house Cronos blockchain.

While Crypto.com already runs a qualified custodian, Crypto.com Custody Trust Co., regulated by New Hampshire’s banking department, the OCC charter brings its…