US official recognizes digital asset custody services; five major institutions obtain national trust bank licenses

【Crypto World】The Office of the Comptroller of the Currency (OCC) in the United States recently approved the national trust bank license applications of five institutions: BitGo, Fidelity Digital Assets, Paxos, Circle, and Ripple. What does this mean? In simple terms, these companies can now legitimately provide digital asset custody services.

It is worth noting that each company’s approved scope of business has slight differences. Among them, Paxos has the most comprehensive permissions, not only able to provide custody but also licensed to issue stablecoins — which under the US regulatory framework is equivalent to obtaining an additional pass.

What does this approval signify? From a broader perspective, US regulators are gradually integrating digital asset services into the traditional financial regulatory framework, using existing banking license systems to regulate this emerging field. For institutions, this is a stamp of compliance; for users, there are now more officially recognized options for asset custody.