Why Zerohash Applied for a National Trust Bank Charter
Crypto infrastructure firm Zerohash has submitted an application to the U.S. Office of the Comptroller of the Currency seeking approval to operate a national trust bank, joining a growing group of digital asset companies pursuing federal regulatory status in the United States.
The proposed entity would focus on digital asset services rather than traditional banking activities. According to the OCC filing, the trust bank plans to offer services including “custody over digital assets, fiat currency, and other assets; custodial staking and validation activities; transfer agent services; trade execution; stablecoin management; and settlement, clearing, and escrow services.”
Stephen Gardner, Zerohash’s chief legal officer, has been proposed as chief executive officer of the new trust bank.
The application reflects a broader push by crypto infrastructure providers to secure federal charters that place them under U.S. banking supervision, a status viewed by many firms as a way to increase credibility with institutional clients.
Investor Takeaway
What Services Would the Trust Bank Provide?
The trust bank structure would allow Zerohash to deliver regulated digital asset infrastructure to institutional clients without operating as a full commercial bank. Trust banks generally focus on custody, asset servicing, and transaction support rather than deposit-taking or lending.
In Zerohash’s case, the proposed services would include custody for digital assets and fiat balances, staking and validation support, trade execution infrastructure, transfer agent functions, and services tied to stablecoin operations.
The filing also lists settlement, clearing, and escrow capabilities as part of the service set, suggesting the trust bank could function as an operational hub for institutions that want regulated access to digital asset markets without managing blockchain infrastructure internally.
If approved, the charter would place the entity under federal supervision, which many crypto firms believe may reduce counterparty concerns among large financial institutions exploring digital asset activity.
How Does This Fit Into a Broader Industry Trend?
Zerohash is not the only company pursuing this path. Several major digital asset firms have recently applied for or received conditional approval for national trust bank charters from the OCC.
Ripple, Circle, and BitGo all received conditional approval for similar structures in December. These charters allow firms to operate federally regulated trust institutions focused on digital asset custody and servicing rather than consumer banking.
The trust bank route has gained attention because it offers a regulatory framework that aligns more closely with the service models used by many crypto infrastructure providers. Instead of attempting to replicate full banking operations, firms can focus on custody, settlement, and transaction services for institutional clients.
For regulators, the structure provides federal oversight over companies handling digital assets while keeping those firms outside the traditional deposit insurance framework.
Investor Takeaway
What Approval Would — and Would Not — Allow
Even if the OCC approves the application, Zerohash would not operate like a traditional commercial bank. National trust banks are generally prohibited from accepting retail deposits or issuing loans.
Instead, the charter would allow the firm to provide regulated asset servicing functions under federal supervision. For digital asset companies, that status can make it easier to work with institutional investors that require regulated counterparties.
The approval process can also take months and often involves conditions tied to compliance programs, capital standards, and operational controls.
How Zerohash Is Expanding Its Infrastructure Platform
The trust bank application comes as Zerohash continues expanding the capabilities of its crypto infrastructure platform. Last month the company added support for the Monad blockchain along with USDC issued on the network.
The integration allows clients — including prediction markets platform Kalshi — to build stablecoin-based payment flows on the network without running their own blockchain infrastructure or obtaining separate regulatory licenses.
For infrastructure providers like Zerohash, combining blockchain connectivity with regulated asset servicing is becoming a central strategy. If the trust bank charter is approved, the firm would be able to integrate those services within a federally supervised entity, potentially making the platform more attractive to institutions exploring digital asset settlement and payment systems.
