Zerohash Enters Federal Licensing Fray with National Trust Bank Charter Application

Zerohash, a blockchain infrastructure provider, has made significant strides in the crypto industry by applying for a National Trust Bank Charter. The move is part of a growing trend where crypto firms seek federal licensing, signifying a shift towards regulated digital asset infrastructure.

The National Trust Bank Charter would enable Zerohash to operate as a trust bank nationwide, allowing it to engage in fiduciary activities, asset custody, and settlement services. However, institutions with this charter are restricted from taking deposits or issuing loans and are not covered by FDIC insurance.

This development is not isolated, as several other digital asset firms have taken similar steps towards securing federal licenses. Crypto.com received conditional OCC 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 expansion of trust charters to crypto firms has raised concerns among traditional banking groups, who argue that it may blur the lines of what constitutes a bank and lead to regulatory arbitrage.