Ripple, Circle, BitGo Among Five Crypto Firms Granted Conditional U.S. Bank Charters

Source: ETHNews Original Title: Ripple, Circle, BitGo Among Five Crypto Firms Granted Conditional U.S. Bank Charters Original Link: https://www.ethnews.com/ripple-circle-bitgo-among-five-crypto-firms-granted-conditional-u-s-bank-charters/ Five major digital asset companies, including Ripple, Circle, and BitGo, have secured initial conditional approvals from the Office of the Comptroller of the Currency (OCC) to operate as national trust banks, marking one of the most significant steps yet toward integrating the crypto sector into the U.S. banking system.

The decisions were issued on Friday, December 12, 2025, and reflect the OCC’s growing willingness to formalize oversight of systemically important crypto firms.

Major Crypto Firms Move Toward National Trust Bank Status

The approvals create a pathway for these companies to operate under a single federal regulatory framework, replacing the patchwork of state-by-state oversight that has historically governed much of the digital asset industry. Each firm now has up to 18 months to raise capital, build infrastructure, and meet supervisory conditions before receiving final approval.

Circle Internet Group received a de novo national trust charter for its newly formed entity, the First National Digital Currency Bank, a structure that positions Circle to deepen its role in U.S. dollar-based digital payment infrastructure.

Ripple was granted a de novo charter for Ripple National Trust Bank, underscoring the company’s ambition to integrate XRP and related services into more regulated financial environments.

BitGo, already operating as a state-chartered trust bank, received approval to convert its license into a national one, allowing it to provide custody services nationwide. As a private firm, BitGo does not have publicly traded stock.

Paxos received similar approval to migrate from its existing state charter to a national trust bank charter, further strengthening its position as a regulated stablecoin and tokenization infrastructure provider.

Fidelity Digital Assets, already a major institutional custodian, also obtained approval to convert its state trust charter and move under a federal umbrella.

What the Charters Allow And What They Don’t

The approvals grant authority for these institutions to operate national trust banks focused on custody and safekeeping of digital assets. While this offers a consistent and federally supervised operational environment, the charters do not allow the firms to take traditional deposits or issue loans. Instead, the focus remains on regulated custody, settlement functions, and secure digital asset operations.

The OCC’s decisions represent a significant milestone for the crypto industry, which has long sought clearer federal guidance. By transitioning digital asset firms into nationally chartered entities, regulators aim to strengthen consumer protections, standardize supervisory practices, and provide more stable integration points with the traditional financial system.

A Turning Point for U.S. Digital Asset Oversight

The approvals arrive as federal regulators are reassessing their posture toward digital assets, shifting away from broad risk warnings toward more structured frameworks. The move suggests that policymakers increasingly view crypto infrastructure as a permanent component of the financial landscape, one that requires federal-level oversight rather than fragmented state regulation.

If the firms meet their capital and operational requirements within the 18-month window, they will join a small but growing group of crypto institutions operating under national charters, potentially reshaping how digital assets connect with U.S. banking and capital markets.