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Kraken Parent Payward Seeks Federally Regulated Trust Company Charter

Payward filed for an OCC national trust bank charter on May 9, a license that would place its crypto custody and trust services under a single federal regulator if approved.

Fact Check
All three sources directly and consistently confirm every element of the claim. Kraken's official blog post ('Payward files application for OCC National Trust Company') is the primary source, confirming the OCC application for a federally regulated trust company charter (Payward National Trust Company / PNTC), and explicitly noting it complements the existing Wyoming SPDI bank charter and Federal Reserve master account. CoinDesk and The Block independently corroborate all key details. There is no conflicting evidence. The claim accurately characterizes the application as adding a federally regulated trust company to the Kraken group alongside its existing Wyoming bank charter and Federal Reserve master account.
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Summary

Payward, the parent company of crypto exchange Kraken, filed for an OCC national trust bank charter on May 9, seeking to operate crypto custody and trust services under a single federal regulatory framework. The application would add a federal layer to Kraken’s existing Wyoming special purpose depository institution license as the company expands regulated digital asset services. The new report says more than 12 crypto and fintech firms have applied for or received approval for similar charters since December 2025, while Anchorage Digital Bank remains the only fully operating national trust bank.

Terms & Concepts
  • national trust bank charter: A federal license issued by the OCC that allows a firm to offer trust and custody services under national supervision rather than relying on separate state oversight.
  • digital asset custody: The safekeeping of digital assets and private keys for clients using regulated operational, legal, and security controls.
  • OCC: The Office of the Comptroller of the Currency is the U.S. regulator that oversees national banks and federally chartered trust institutions.