Zerohash, a blockchain infrastructure provider, has applied for a National Trust Bank Charter with the 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. 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. 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. BitGo received full OCC approval in December 2025. 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 invite potential regulatory arbitrage.
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