Crypto infrastructure firm Zerohash has applied for a national trust bank charter in the United States, a move that could expand the company’s role in regulated digital asset services for financial institutions and fintech platforms.
The Chicago-based firm submitted its application to the Office of the Comptroller of the Currency (OCC). The filing seeks approval to operate a federally regulated national trust bank.
According to the company’s March 4 announcement, the charter would allow Zerohash to broaden its services under a federal regulatory framework. The firm already holds multiple licenses across global jurisdictions and operates regulated entities in 51 U.S. jurisdictions.
Zerohash provides infrastructure that enables companies to integrate cryptocurrencies, stablecoins, and tokenized assets into financial services and payment products.
Charter could expand custody and stablecoin services
A national trust bank charter allows institutions to perform fiduciary activities such as custody, asset safekeeping and trust services. Trust banks operate under federal oversight but do not function like traditional banks. They cannot take deposits or issue loans.
Zerohash stated that the charter would support expansion of services tied to stablecoins and digital asset infrastructure.
“With the federal legislative and regulatory landscape for stablecoins and digital assets rapidly maturing, an OCC National Trust Bank charter will permit zerohash to continue to expand its service offerings under a federal framework, including those activities that fall under the GENIUS Act.”
The company provides infrastructure that powers crypto services for major financial institutions and fintech platforms. Publicly listed partners include Morgan Stanley, Interactive Brokers, Stripe, and Franklin Templeton.
Through application programming interfaces and development tools, Zerohash enables businesses to launch products related to payments, trading, remittances, tokenization and crypto on-ramps.
Company leadership frames charter as next regulatory step
Stephen Gardner, chief legal and compliance officer at Zerohash, described the application as a logical extension of the firm’s regulatory strategy.
“Stablecoins and digital assets are increasingly becoming part of the core financial system,” Gardner said. “Our partners choose zerohash because we offer trusted, secure, and regulatorily compliant infrastructure. Applying for a National Trust Bank Charter is a natural next step in offering robust global licensing coverage and continuing to expand our product offering.”
Gardner also stated that the company intends to continue engagement with regulators during the review process.
“Zerohash looks forward to continuing to engage constructively with OCC staff throughout the review process and appreciates their consideration of the application.”
The OCC has made the Zerohash charter application publicly available for review.
Growing number of crypto firms pursue federal charters
Zerohash joins a group of digital asset companies that have pursued federal banking-style licenses in the United States.
Interest in national trust charters increased after the passage of the GENIUS Act in July, legislation that focused on the regulation of stablecoins.
The OCC has granted several conditional approvals to crypto firms in recent months. Companies that secured approvals in December include Circle, Ripple, BitGo, Fidelity Digital Assets and Paxos.
In February, the regulator issued conditional approvals to Crypto.com, Bridge and Stripe.
Other firms have also filed applications that remain under review. Coinbase submitted a request in October, while financial services company Payoneer filed an application in February.
A subsidiary connected to World Liberty Financial, a crypto platform linked to the Trump family, submitted a trust charter application in January as part of plans to expand the use of its USD1 stablecoin, as HodlFM reported.
Debate continues over crypto banking licenses
The expansion of trust charters for digital asset companies has triggered debate between crypto firms and traditional banking groups.
The American Bankers Association has raised concerns that expanding the trust charter framework could blur the regulatory boundary between traditional banks and specialized digital asset custodians.
Trust banks operate under different rules from commercial banks. They cannot accept deposits from customers or issue loans, but they can hold assets in custody and provide fiduciary services.
Supporters of the charter model argue that it allows digital asset companies to operate under federal oversight while maintaining specialized infrastructure for custody, settlement and tokenized assets.
In December, Jonathan Gould, the Comptroller of the Currency, said new participants in the federal banking system could benefit consumers and financial markets.
He stated that additional entrants bring access to new products, services and credit sources while maintaining competition within the banking sector.
Crypto infrastructure expands alongside regulatory shifts
Zerohash has supported regulated digital asset infrastructure since 2017. The company provides tools that allow financial institutions to integrate crypto capabilities without building their own infrastructure.
Its technology supports services such as cross-border payments, remittances, tokenized asset platforms, and digital trading systems.
The firm also maintains a regulatory footprint across the European Union, Latin America, Australia, New Zealand, and Bermuda.
Zerohash stated that its services are not available in all jurisdictions and that accounts on the platform are not protected by deposit insurance such as coverage from the Federal Deposit Insurance Corporation.
Regulators will review the charter application before making a final decision on whether Zerohash can operate as a national trust bank in the United States.
Roman Zaika
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