Zerohash seeks US national trust bank charter

TLDR

Digital asset infrastructure firm Zerohash has applied for a U.S. national trust bank charter from the OCC to expand its regulated crypto custody and stablecoin services.

1. Zerohash filed with the Office of the Comptroller of the Currency to create a federally regulated national trust bank focused on digital asset custody, staking, payments, and stablecoins.
2. The charter would move Zerohash from a patchwork of state licenses to a single federal framework, which matters for large clients using its crypto rails for payments and settlement.
3. The move fits a broader wave of OCC trust charter bids by crypto firms, with politics and new stablecoin rules likely to shape timing and conditions.

Deep Dive

1. What Zerohash Is Applying For

Zerohash has submitted an application to the U.S. Office of the Comptroller of the Currency (OCC) to operate a national trust bank focused on digital assets. Reports from outlets such as CoinDesk and The Block say the proposed entity would offer custody over digital assets, fiat and other assets, custodial staking and validation, transfer agent services, trade execution, stablecoin management, and settlement, clearing, and escrow services under a single federal charter.

As a trust bank, it would not be allowed to take deposits or make loans like a traditional commercial bank, so it would not be a full-service retail bank even if approved. Zerohashs chief legal officer, Stephen Gardner, is listed as the proposed CEO of the trust bank.

2. Why It Matters For Crypto Infrastructure

Zerohash already powers embedded crypto services for major institutions including Morgan Stanley, Stripe, Franklin Templeton and others, enabling trading, custody and stablecoin payments behind the scenes. Today that activity sits on a web of money?transmitter and similar licenses across 50+ U.S. jurisdictions.

A national trust bank charter would let it operate under one federal framework aligned with the GENIUS Act, which created clear rules for stablecoin reserves and issuance. That could make it easier for banks, brokerages and fintechs to rely on Zerohash for regulated stablecoin settlement, tokenized assets and custodial staking without juggling state-by-state risk.

3. Part Of A Larger OCC Stablecoin Push

Since the GENIUS Act passed, applications for OCC national trust bank charters have surged. Circle, Ripple, BitGo, Fidelity Digital Assets, Paxos, Stripe and Crypto.com have reportedly received conditional approvals, while others like Coinbase, Morgan Stanley Digital Trust and Trump?linked World Liberty Financial are in the queue.

Regulators are also proposing detailed GENIUS Act rules for reserve assets and yield structures on stablecoins, and there is visible political scrutiny around who gets charters and on what terms. The OCC has not given a timeline for Zerohashs approval, so the key things to watch are public OCC notices, any conditional approval terms and how strictly new stablecoin rules are applied to trust banks.

Conclusion

Zerohashs charter bid signals that crypto plumbing providers want bank?level status to handle custody, stablecoins and settlements for large institutions under clear federal rules. If the OCC grants the charter, it would strengthen regulated on and off ramps for stablecoin and tokenized asset flows, but the outcome will depend on how regulators balance innovation with new systemic and political concerns around stablecoins and bank charters.