Zerohash, a blockchain infrastructure provider, has applied for a National Trust Bank Charter with the Office of the Comptroller of the Currency (OCC), joining a growing list of crypto firms seeking federal licensing.
Stephen Gardner, the Chief Legal and Compliance Officer at Zerohash, noted that applying for a charter was a logical progression for the company.
Sponsored
Sponsored
Why it matters:
- A national bank trust charter allows an institution to operate as a trust bank nationwide.
- It enables fiduciary activities, asset custody, and settlement services. However, institutions with this charter cannot take deposits or issue loans, and are not covered by FDIC insurance.
- Growing OCC approvals for crypto firms signal a structural shift toward federally regulated digital asset infrastructure.
The details:
- If approved, the charter would allow Zerohash to further expand its range of services within a federal framework.
- Several digital asset firms have taken similar steps, with some already securing conditional approvals.
- Crypto.com received conditional OCC approval in late February. Ripple, Circle, Paxos, and Fidelity secured similar approvals in 2025.
- In addition, BitGo received full OCC approval in December 2025.
- World Liberty Financial‘s subsidiary filed its application in January 2026 to establish World Liberty Trust Company, National Association.
The big picture:
- Traditional banking groups have pushed back against the OCC’s issuance of trust charters to crypto firms.
- The American Bankers Association raises concerns that broadening the trust charter, especially for entities not involved in traditional fiduciary activities, could blur the lines of what it means to be a bank and open the door to potential regulatory arbitrage.
