Zerohash Seeks National Trust Bank Charter From OCC
Chicago-based Zerohash has applied to the U.S. Office of the Comptroller of the Currency for a national trust bank charter, aiming to operate stablecoin issuance and digital asset custody under a unified federal regulatory framework.
Zerohash has applied for a National Trust Bank charter with the U.S. Office of the Comptroller of the Currency (OCC), seeking federal oversight for services including stablecoin issuance, digital asset custody, and reserve management. If approved, the Chicago-based crypto infrastructure firm would operate under a single federal regulatory framework instead of state-by-state licensing rules. The charter would allow Zerohash to expand its stablecoin and digital asset services while prohibiting traditional banking activities such as accepting deposits or commercial lending. The company, which already holds licenses in 51 U.S. jurisdictions and serves major financial clients including Morgan Stanley, Interactive Brokers, Stripe, and Franklin Templeton, joins other firms such as Stripe’s Bridge, Crypto.com, Circle, Ripple, Paxos, Fidelity Digital Assets, and BitGo in pursuing or receiving similar federal trust bank approvals.
- National Trust Bank Charter: A federal charter granted by the U.S. Office of the Comptroller of the Currency allowing institutions to provide fiduciary services such as digital asset custody under direct federal supervision.
- Stablecoin: A type of cryptocurrency designed to maintain a stable value, typically pegged to fiat currencies like the U.S. dollar and commonly used for payments, trading, and settlement.
- Crypto custody: The secure storage and management of digital assets on behalf of clients, ensuring protection of private keys and compliance with regulatory requirements.