## OCC Officially Upgrades Five Financial Technology Companies, Changing the Game for U.S. Banking

The five digital asset companies have just received significant recognition from the U.S. Office of the Comptroller of the Currency (OCC). This is no small step—it's a moment when blockchain companies move from the fringe into the core of the country's centralized banking system.

## List of Five Approved Trust Banks

OCC has granted national trust bank charters to two companies—First National Digital Currency Bank and Ripple National Trust Bank—completely new. At the same time, three other organizations are upgrading from state-level trust models to national trust banks: BitGo Bank & Trust, Fidelity Digital Assets, and Paxos Trust Company.

What does this mean? They are stepping into a higher-level playing field—but with conditional access, not unconditional. To retain their rights, they must strictly adhere to regulatory standards.

## Conditional Approval Process and Strict Requirements

OCC emphasizes that each company must complete a **rigorous approval process** based on legal standards and regulations. This means: financial checks, risk assessments, compliance reviews—all the complex tasks that lawyers and auditors love.

Comptroller Jonathan V. Gould stated that this move is a step forward for the banking industry, consumers, and the entire economy. The new entrants will bring innovative products, novel services, and additional funding opportunities.

## Broader Significance: The Banking System is Changing

OCC's centralized banking system currently oversees more than 1,000 financial institutions, controlling about 67% of total banking activity in the U.S. and managing over $17 trillion in assets. With these five digital asset trust banks entering, the game is entirely different. OCC aims for traditional banking systems and modern digital finance to **coexist and grow**, rather than leaving blockchain companies on the sidelines.

This blueprint clearly shows: the U.S. is preparing for a digital economy, not just observing from the outside.

*This article is based on information from András Mészáros, a Cryptocurrency and Web3 expert, DeFi analyst, tokenization specialist, and current crypto regulation commentator.*