Which firms got OCC trust charters?

TLDR

Five firms received conditional OCC national trust bank charters: Circle (First National Digital Currency Bank), Ripple National Trust Bank, BitGo, Fidelity Digital Assets, and Paxos, per a recent notice (Cointelegraph).

1. Circle and Ripple were approved as new de novo national trust banks (finance overview).
2. BitGo, Fidelity, and Paxos were approved to convert from state trust companies to national trust banks (finance overview).
3. Approvals are conditional; Anchorage Digital remains the only finalized crypto national trust bank charter to date (Bitcoinist).

Deep Dive

1. The Five Firms

The OCC conditionally cleared national trust bank charters for Circle, Ripple, BitGo, Fidelity Digital Assets, and Paxos, expanding crypto firms path into the federal banking system (Cointelegraph).

1. Reports consistently identify the same five firms across major outlets (Cointelegraph).
2. Coverage describes an emphasis on custody and settlement under federal supervision rather than traditional deposit-taking (finance overview).

2. New vs Conversion

Circle and Ripple were approved to form brand-new national trust banks, while BitGo, Fidelity, and Paxos will convert their existing state trust entities to federal charters (finance overview).

1. De novo national trust banks (Circle, Ripple) gain direct federal oversight from inception (Cointelegraph).
2. Conversions (BitGo, Fidelity, Paxos) replace patchwork state oversight with a single national supervisor (finance overview).

3. What Conditional Means

Conditional approvals require firms to meet capital, governance, compliance, and operational milestonesoften over an 18?month build periodbefore final authorization (finance overview).

1. Conditional status is not the same as full charter; it is a structured path to final approval with defined OCC conditions (finance overview).
2. Anchorage Digital remains the only crypto firm with a finalized national trust bank charter, providing precedent and a compliance benchmark (Bitcoinist).

Conclusion

The OCCs conditional trust charters open a federal pathway for five major crypto firms, with de novo approvals for Circle and Ripple and conversions for BitGo, Fidelity, and Paxos. The practical impact will arrive as each meets OCC conditions, potentially broadening regulated custody, settlement, and stablecoin infrastructure across the U.S. banking system.