A “crypto trust bank” is not one uniform nationwide charter type. It commonly refers to a national bank chartered by the Office of the Comptroller of the Currency (OCC) for trust-company operations and related activities, including some digital-asset services. A state-chartered trust company gets its authority from a particular state’s law and regulator. Neither label alone tells you whether the institution can take deposits, has FDIC insurance, or is approved to provide a specific crypto service.
What the two charter labels mean
The federal and state routes differ first in who grants the charter and which law governs it. For federal national trust banks, the OCC relies on Section 27(a) of the National Bank Act, 12 U.S.C. § 27(a). That provision allows a national bank whose operations are limited to those of a trust company and activities related to them.
As an Amazon Associate I earn from qualifying purchases.
A state-chartered trust company is created under the law of the state that grants its charter. Its powers and limits depend on that state’s statutes, regulator, charter documents, and any approval conditions. New York is a useful example, but it does not represent every state.
Free tools Windows power users keep installed
One-click scans. No signup required.
“Crypto trust bank” is therefore a descriptive shorthand, not a guarantee of a particular service package. When evaluating a company, identify its legal entity, chartering authority, and actual approvals rather than relying on its branding.
#1 Best Overall
- Effortlessly build your crypto portfolio via the all in one Ledger Wallet app: buy, sell, send, receive, swap, stake and more across popular blockchains. 15,000+ coins & tokens in a single dashboard. Keep a close eye on the market. Compare service providers. Track performance. Get timely alerts. Build your portfolio with confidence.
- Enjoy Bluetooth connectivity, iOS access, and hours of battery use with this mobile-first, secure backup signer. Freedom you can depend on.
- Genuine Check: confirm your signer is authentic during setup with the Ledger Wallet app.
- Protect your signer: keep it in mint condition at all times with a bespoke Pod or Case to avoid scratches and everyday wear and tear.
How their authority and powers compare
| Question | OCC national trust bank | State-chartered trust company |
|---|---|---|
| Who grants the charter? | The OCC under the National Bank Act, including 12 U.S.C. § 27(a). | The relevant state regulator under that state’s law. New York DFS is one example. |
| What activities can it conduct? | Permissible trust-company operations and related activities, which can include non-fiduciary functions such as custody. The bank must still comply with applicable law, supervision, and its own charter conditions. | Activities set by state law, the institution’s charter documents, and regulator conditions. The rules vary by state. |
| What governs fiduciary work? | Federal fiduciary authority is addressed by 12 U.S.C. § 92a and 12 C.F.R. Part 9. A trust-bank charter and whether a particular activity is fiduciary are related but distinct questions. | State law and the institution’s charter terms. New York Banking Law § 100, for example, enumerates fiduciary powers subject to statutory restrictions. |
| Can it accept deposits or make loans? | Do not infer either power from the trust-bank label. Check the specific charter, approved business plan, and applicable requirements. | State-specific. New York’s limited-purpose trust companies generally cannot take deposits or make loans except where they arise directly from fiduciary powers. |
| Is it FDIC-insured? | Not established by the charter label alone. The OCC has reported uninsured national trust banks, so verify the institution’s status rather than assuming coverage. | State-specific. New York DFS describes an exception to FDIC-insurance requirements for limited-purpose trust company applications; that does not establish the status of every state-chartered company. |
| Does the charter authorize crypto services? | The OCC has recognized cryptocurrency custody as a permissible activity for national banks, subject to applicable requirements and the institution’s circumstances. | Not automatically. In New York, a banking-chartered firm must receive DFS approval for virtual-currency business activity. |
Why federal trust-bank powers are not limited to fiduciary services
In Interpretive Letter 1176, dated January 11, 2021, the OCC explained that a national bank chartered under Section 27(a) may conduct permissible trust-company operations and related activities that include both fiduciary and non-fiduciary functions, such as custody. The separate federal framework for a national bank acting in a fiduciary capacity is Section 92a and 12 C.F.R. Part 9.
The OCC’s final rule, effective April 1, 2026, clarified the language concerning trust-company operations and related activities. OCC Bulletin 2026-4 said the rule “would neither expand nor contract the OCC’s authority to charter a national bank.” The clarification does not make every proposed service automatically permissible: the bank remains subject to its charter, applicable law, supervision, and any conditions attached to its approval.
Rank #2
- Proven security at scale: Over 9 years and millions of cards issued with no known remote hacks, while military‑grade EAL6+ security keeps your private keys locked inside the chip. Your cryptocurrencies stay strongly protected from online attackers.
- Tap once to manage your entire crypto wallet across 90 blockchains - no USB cables or Bluetooth, no batteries, no setup. Access 14,100+ coins & tokens, DeFi, NFTs, and staking instantly from your phone
- Smart backup: Use your second Tangem Wallet as your Backup keys with end‑to‑end encryption; no more papers, pictures. If one card is lost, the remaining can still restore full access, with an optional seed phrase available for advanced users.
- Engineered to last up to 25 years: Waterproof (IP69K), shockproof and tested for extreme temperatures from −25°C to 50°C. A durable cold wallet with long‑term protection and independently audited security.
- Trusted by 6 million users worldwide (4.9 App Store, 4.8 Google Play) - buy, sell, swap, stake, and spend cryptocurrency directly. The secure offline storage wallet designed for how people actually use crypto wallets
What New York’s limited-purpose trust company example shows
New York DFS says it charters and regulates banks and trust companies under Article III of the state Banking Law. It describes a trust company as an entity authorized by the Superintendent to exercise fiduciary powers. A limited-purpose trust company has a narrower profile: the DFS guidance says it generally lacks general deposit-taking and lending powers, apart from deposits or loans that arise directly from fiduciary powers.
The permitted products, services, and activities are tied to the institution’s organization certificate and approval conditions. DFS says a limited-purpose trust company may not materially change its products, services, or activities without prior Superintendent approval. Its application process includes exceptions concerning minimum capitalization and FDIC-insurance requirements, while otherwise receiving scrutiny similar to other bank and trust company proposals.
Rank #3
- Proven security at scale: Over 9 years and millions of cards issued with no known remote hacks, while military‑grade EAL6+ security keeps your private keys locked inside the chip. Your cryptocurrencies stay strongly protected from online attackers.
- Tap once to manage your entire crypto wallet across 90 blockchains - no USB cables or Bluetooth, no batteries, no setup. Access 14,100+ coins & tokens, DeFi, NFTs, and staking instantly from your phone
- Smart backup: Use your second Tangem Wallet as your Backup keys with end‑to‑end encryption; no more papers, pictures. If one card is lost, the remaining can still restore full access, with an optional seed phrase available for advanced users.
- Engineered to last up to 25 years: Waterproof (IP69K), shockproof and tested for extreme temperatures from −25°C to 50°C. A durable cold wallet with long‑term protection and independently audited security.
- Trusted by 6 million users worldwide - buy, sell, swap, stake, and spend cryptocurrency directly. The secure offline storage wallet designed for how people actually use crypto wallets
These are New York rules, not a nationwide template. For another state, consult that state’s banking law and regulator. For a particular firm, the charter certificate and regulator’s approval documents are more informative than the word “trust” in its name.
What crypto services are covered—and what still needs checking
In July 2020, the OCC said national banks and federal savings associations may provide cryptocurrency custody, including holding the associated unique cryptographic keys. Custody, however, is not interchangeable with trading, operating an exchange, payments, issuing stablecoins, or other digital-asset activities. Approval or authority for one service should not be treated as approval for all of them.
Rank #4
- EAL5+ CERTIFIED SECURE ELEMENT + FINGERPRINT PROTECTION — Your private keys stay encrypted offline on a certified EAL5+ chip, the same security tier used in EMV bank cards. Built by DCENT, securing crypto since 2018. Fingerprint authentication adds a second layer no PIN-only wallet can match.
- 10,000+ ASSETS NATIVE ON 100+ BLOCKCHAINS — Hold Bitcoin, Ethereum, XRP, Solana, Cardano, popular stablecoins (USDT, USDC), and NFTs in one wallet. No third-party apps, no fragmented setup — every supported asset works straight out of the box.
- TAP-TO-SIGN MOBILE EXPERIENCE — Pair your wallet with the DCENT mobile app over Bluetooth. Manage tokens, review transactions, and access in-app swap features directly from your phone — no cables, no desktop required.
- WEB3 & dAPP ACCESS VIA METAMASK — Connect to MetaMask and other browser extension wallets to manage NFTs, claim airdrops, and access dApps. A large screen and intuitive 4-button interface keep every transaction clearly visible before you sign.
- SEAMLESS FIRMWARE UPDATES & 30-DAY MONEY-BACK GUARANTEE — Apply security updates without resetting your wallet or migrating funds. Backed by Amazon's 30-day money-back guarantee — your purchase is risk-free.
In November 2021, the OCC said certain crypto, distributed-ledger, and stablecoin activities discussed in earlier interpretive letters could be conducted after a bank notified its supervisory office and received written non-objection. That is dated guidance, not a timeless blanket permission. The OCC also retained discretion to determine whether an activity is fiduciary for federal-law purposes. Check current requirements for the specific activity and institution.
New York takes a separate approval approach: DFS says firms operating under a New York Banking Law charter, including a limited-purpose trust company or state bank, need the Superintendent’s approval to conduct virtual-currency business activity. DFS distinguishes a limited-purpose trust company’s fiduciary powers from the BitLicense framework. A state trust charter, by itself, does not establish crypto authorization.
Best Value
- Dual-chip architecture for maximum protection: The next-gen, fully auditable TROPIC01 chip works alongside a certified EAL6+ Secure Element—completely NDA-free—to deliver radically transparent, industry-leading defense against physical attacks.
- Quantum-ready security: Get protection against future threats with the first-ever hardware wallet designed with quantum-ready architecture.
- See every detail with confidence: Our largest high-resolution color touchscreen makes it easy to navigate your assets, review transactions and manage your coins with clarity.
- Wireless freedom with encrypted Bluetooth control: Manage, buy, swap and stake securely using Trezor Suite on desktop or mobile. Qi2-compatible wireless charging keeps your Trezor powered up. No cables required—security meets convenience.
- Works seamlessly with Android, iOS and desktop: Connect wirelessly or via USB-C to your phone or computer. Manage your crypto anywhere with our companion Trezor Suite app.
How to read an approval or application listing
A regulator’s record is a status-specific snapshot. An application listing means an application is pending as described by that regulator; it does not show that the firm has received a charter, begun operations, or been cleared to provide every proposed service. The OCC’s Digital Assets Licensing Applications page describes its entries as pending applications and can change. As reviewed on October 7, 2026, it included applicants with 2026 dates such as zerohash National Trust Bank, Dakota National Trust Bank, Payward National Trust Company, and EDX Trust. Check the live record before relying on any applicant’s status.
Likewise, the OCC’s December 12, 2025 conditional approval letter for Ripple National Trust Bank described proposed cryptocurrency custody and collateral trustee services. It identified Standard Custody & Trust Company, LLC as a New York limited-purpose trust charter regulated by NYDFS. Conditional approval is not the same thing as proof that all conditions have been met, that business has commenced, or that every proposed activity is operating.
In that letter, the OCC reported that OCC-supervised uninsured national trust banks had $6.8 trillion in assets under administration as of September 30, 2025, including $1.6 trillion in custody and safekeeping accounts and $5.2 trillion in fiduciary accounts. These are OCC-reported aggregate figures for those banks, not crypto-only totals and not a measure of any one institution.
Quick Recap
What to verify before relying on a trust charter
- Identify the charter and legal entity. Confirm whether the institution is federally chartered by the OCC or chartered under a named state’s law.
- Read the permitted-activity documents. Look for the charter, organization certificate, approval order, and any conditions that limit services or require further approval.
- Match the approval to the service. Determine whether the specific activity is custody, fiduciary administration, trading, payments, stablecoin activity, or something else; one approval does not establish authority for every category.
- Check deposits, lending, and insurance separately. Confirm whether the institution can accept deposits or make loans and whether deposits, if any, are FDIC-insured. Do not infer these features from its name or trust status.
- Confirm current status with the regulator. Distinguish a pending application or conditional approval from an effective charter and authority to operate the service in question.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
