Crypto Firm Zerohash Is Seeking US National Trust Bank Charter

"The proposed national trust bank would provide custody for digital assets, fiat currency and other assets. The entity would also offer custodial staking, transfer agent services and stablecoin management."

"The filing places Zerohash among a growing group of crypto and fintech firms seeking federal trust charters during the second administration of Donald Trump. In December, the OCC granted conditional approval for trust charters requested by Circle Internet Group Inc., Ripple, BitGo Inc., Fidelity Digital Assets and Paxos."

"Trust banks differ from traditional banks. They cannot take deposits or issue loans but can hold assets in custody."

Zero Hash, a Chicago-based digital asset infrastructure firm, has submitted an application for a national trust bank charter with the Office of the Comptroller of the Currency. The proposed trust bank would provide custody services for digital assets, fiat currency, and other assets, along with custodial staking, transfer agent services, and stablecoin management. Zero Hash serves major clients including Kalshi and BlackRock. The filing reflects a broader trend of crypto and fintech firms seeking federal trust charters. In December, the OCC granted conditional approval to similar charter requests from Circle, Ripple, BitGo, Fidelity Digital Assets, and Paxos. Trust banks differ from traditional banks by holding assets in custody without accepting deposits or issuing loans. Zero Hash previously rejected a potential $2 billion acquisition offer from Mastercard but is now exploring a strategic investment partnership.

Read at Bitcoin Magazine