Zerohash Enters National Trust Bank Charter Race

Blockchain infrastructure provider Zerohash has made significant strides in expanding its services by applying for a National Trust Bank Charter with the Office of the Comptroller of the Currency (OCC).

The charter, if approved, would enable Zerohash to operate as a trust bank nationwide, facilitating fiduciary activities, asset custody, and settlement services. However, institutions with this charter are not covered by FDIC insurance and cannot take deposits or issue loans.

Several other digital asset firms have taken similar steps, with some already securing conditional approvals from the OCC. Crypto.com received conditional approval in late February, while Ripple, Circle, Paxos, and Fidelity secured similar approvals in 2025. BitGo also received full OCC approval in December 2025.

The trend of crypto firms seeking federal licensing is indicative of a structural shift toward federally regulated digital asset infrastructure. However, traditional banking groups have raised concerns that broadening the trust charter could blur the lines between banks and create potential regulatory arbitrage.