A Year of Change Across Financial Regulation – and What Comes Next, December 2025 – OCC Conditionally Approves Five Crypto-Focused National Trust Bank Charters

On December 12, 2025, the Office of the Comptroller of the Currency (“OCC”) granted the conditional approval of five national trust bank charter applications involving crypto-focused institutions. The approvals include two de novo charters, First National Digital Currency Bank and Ripple National Trust Bank, and the conversion of three state trust companies, BitGo Bank & Trust, Fidelity Digital Assets, and Paxos Trust Company, into uninsured national trust banks subject to OCC supervision….
By: Cadwalader, Wickersham & Taft LLP