Zerohash Joins National Trust Bank Charter Race with Latest Application

Zerohash, a blockchain infrastructure provider, has applied for a National Trust Bank Charter with the Office of the Comptroller of the Currency (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.

Why it matters:

• 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.

The details:

• 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.
• In addition, BitGo received full OCC approval in December 2025.
• World Liberty Financial‘s subsidiary filed its application in January 2026 to establish World Liberty Trust Company, National Association.

The big picture:

• Traditional banking groups have pushed back against the OCC’s issuance of trust charters to crypto firms.
• 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 open the door to potential regulatory arbitrage.

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