ZeroHash Applies for U.S. National Trust Bank Charter as Crypto Banking Pipeline Grows

Digital asset infrastructure firm ZeroHash has applied for a U.S. national trust bank charter with the Office of the Comptroller of the Currency (OCC), a move that would allow the company to operate a federally regulated trust bank focused on cryptocy services. 

The application reflects a broader trend of crypto companies seeking banking licenses to integrate more deeply with the traditional financial system as regulatory frameworks for digital assets continue to evolve in the United States. 

Expanding Services Under Federal Regulation

If approved, the proposed ZeroHash National Trust Bank would provide a specialized suite of digital-asset services rather than traditional banking products.

According to the company’s filing, planned services include:

• Digital asset and fiat custody

• Custodial staking and validator services

• Stablecoin management

• Trade execution and settlement services

• Clearing, escrow, and transfer-agent services

Unlike traditional banks, a national trust bank charter does not allow lending, deposit accounts, or FDIC-insured balances, meaning the institution would focus on custody and fiduciary activities rather than consumer banking. 

A Key Infrastructure Provider in Crypto

Chicago-based ZeroHash operates as a crypto infrastructure platform that allows banks, fintech apps, and brokerages to integrate cryptocy services such as trading, custody, and payments.

Its technology is already used by a range of financial institutions and fintech companies looking to add crypto features without building their own infrastructure from scratch. 

Earlier this year, the company raised $250 million at a $1.5 billion valuation, highlighting growing institutional interest in companies providing backend infrastructure for the digital asset economy. 

Growing List of Crypto Firms Seeking Bank Charters

ZeroHash’s application arrives amid a surge of digital asset companies pursuing federal banking licenses through the OCC.

The regulator has already issued conditional approvals for several crypto firms seeking similar trust charters, including companies tied to Circle, Ripple, Paxos, Fidelity Digital Assets, and BitGo. 

Meanwhile, other financial firms are pursuing broader licenses. For example, fintech giant Revolut recently filed for a full U.S. bank charter, which would allow it to offer traditional banking services alongside cryptocy features.