Zerohash Joins National Trust Bank Charter Race with Latest Application

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Well, well, well. Look who’s jumping on the federal licensing bandwagon. Zerohash, a company whose name sounds like it could be the villain in a cyberpunk movie, has decided to apply for a National Trust Bank Charter with the Office of the Comptroller of the Currency (OCC). Because, you know, what’s better than dabbling in blockchain? Dabble in blockchain with the full blessing of the government.

Stephen Gardner, the Chief Legal and Compliance Officer at Zerohash, explained that applying for a charter was, quite logically, the next step in their inevitable quest for domination. Or, you know, growth. Call it what you will.

Why should you care?

  • A national bank trust charter allows an institution to operate as a trust bank nationwide. Yes, nationwide, because nothing says “trust” like the word “national” attached to it.
  • It lets them offer fiduciary activities, asset custody, and settlement services. All very fancy. But hold up-this also means they can’t take deposits, issue loans, and, surprise, they’re not covered by FDIC insurance. So, you’re on your own if things go south. But, hey, no biggie.
  • The growing number of OCC approvals for crypto firms? That’s a sign, my friends, that we might actually be seeing the start of a federally regulated digital asset world. So much for the wild west.

And here’s the juicy stuff:

  • If Zerohash gets its way, it’ll expand its services within a nice, cozy federal framework. So, it’s like your neighborhood coffee shop finally getting an espresso machine after years of serving just drip coffee. Fancy.
  • Other digital asset firms have been busy applying too, with some already getting their conditional approvals. Because why should Zerohash have all the fun?
  • Crypto.com got the OCC’s blessing in late February. And Ripple, Circle, Paxos, and Fidelity aren’t far behind, all bagging similar approvals in 2025. So, you know, it’s kind of trendy.
  • Meanwhile, BitGo received full OCC approval in December 2025. Talk about a full house!
  • And just when you thought things couldn’t get crazier, World Liberty Financial’s subsidiary went and filed its application in January 2026 to establish World Liberty Trust Company, National Association. Because, why not?
  • Of course, traditional banking groups are throwing a bit of a tantrum over all this. They’ve pushed back against the OCC’s trust charters for crypto firms. Apparently, they’re worried that letting these non-traditional firms get too cozy with trust banks might blur the lines of what it means to be a bank. And let’s not even get started on regulatory arbitrage. They’ve got concerns. Always the concerns.

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2026-03-05 09:45