Crypto firms pursue bank licenses at Consensus

Executives at federally regulated banks told a Consensus Miami 2026 panel that crypto companies are increasingly seeking bank licenses as the industry moves toward regulated financial infrastructure.

Summary

• Panelists at the Consensus Miami 2026 Policy Summit said the push for bank licenses is accelerating among crypto firms under the current regulatory environment.
• A bank charter gives crypto companies direct access to client deposits, reduces borrowing costs, and pulls operations out of regulatory grey zones.
• The session follows a broader Trump-era deregulatory shift that has encouraged firms to pursue national and state bank charters.

Executives at federally regulated banks told the Consensus Miami 2026 Policy Summit on Thursday that the number of crypto companies seeking bank charters is rising sharply, as the industry pursues regulated status to gain credibility and reduce costs.

The session formed part of the Day 3 policy agenda, which also featured discussions on PAC spending, midterm strategy, and crypto legislation.

A bank charter gives a company direct access to customer deposits, federal oversight, and the legal authority to offer banking services.

For crypto firms, the appeal is structural: chartered status reduces borrowing costs, moves operations out of regulatory grey areas, and signals legitimacy to institutional clients who remain cautious about unregulated counterparties.

As crypto.news reported, at least half a dozen crypto industry executives confirmed in early 2025 that their firms saw an opportunity under the Trump administration to apply for banking licenses.

What is driving the charter push

The Office of the Comptroller of the Currency reversed its anti-crypto stance and permitted banks to engage in cryptocurrency-related activity including stablecoins operations and custody. Law firm Troutman Pepper Locke said it was “working on several applications now,” according to filings.

World Liberty Financial applied for a national trust bank charter through its WLTC Holdings entity in January, making it one of the most high-profile applications to date, even as Senator Elizabeth Warren called for the OCC to pause the review.

As crypto.news documented, chartered crypto firms can offer services like loans and deposits that previously required costly third-party arrangements, with SoFi’s relaunch as a nationally chartered bank offering crypto trading the most prominent recent example.