ZeroHash Seeks OCC Trust Bank Charter for Stablecoin Services

A crypto infrastructure firm has applied for a federal banking charter in the United States to expand its regulated stablecoin and digital asset services.

Key Takeaways

• ZeroHash has applied for a National Trust Bank Charter with the U.S. Office of the Comptroller of the Currency.
• Approval would allow the company to issue stablecoins, custody digital assets, and manage reserves under federal supervision.
• The move comes as several crypto firms pursue federal charters to strengthen regulatory credibility.
• A national charter could simplify compliance by replacing the need for dozens of state licenses.

What Happened?

ZeroHash has submitted an application to the U.S. Office of the Comptroller of the Currency seeking approval to operate as a national trust bank focused on digital asset services and stablecoins. If approved, the company would operate under direct federal regulatory oversight instead of relying on a patchwork of state licenses.

The charter would allow the Chicago based firm to offer digital asset custody, stablecoin infrastructure, and other blockchain financial services while remaining restricted from accepting customer deposits or providing commercial lending.

ZeroHash Pushes for Federal Oversight

The application was filed with the Office of the Comptroller of the Currency on March 4 and proposes the creation of an entity called Zerohash National Trust. The federally supervised trust bank would focus on services tied to blockchain based finance, including crypto custody, staking services, stablecoin management, and trade execution linked to digital assets.

If regulators approve the request, ZeroHash would be able to expand its stablecoin and digital asset offerings under a single federal regulatory framework. This would remove the need to navigate complex state by state licensing rules that many crypto firms currently face.

According to Stephen Gardner, Chief Legal and Compliance Officer at Zerohash, stablecoins and digital assets are rapidly becoming a part of the global financial system.

“

Stablecoins and digital assets are increasingly becoming part of the core financial system. Our partners choose zerohash because we offer trusted, secure, and regulatorily compliant infrastructure. Applying for a National Trust Bank Charter is a natural next step in offering robust global licensing coverage and continuing to expand our product offering. zerohash looks forward to continuing to engage constructively with OCC staff throughout the review process and appreciates their consideration of the application.

Stephen GardnerChief Legal and Compliance Officer – Zerohash

Growing Demand for Federal Crypto Charters

ZeroHash is not alone in pursuing a federal banking charter. Several crypto and fintech firms have recently taken similar steps as the regulatory environment around digital assets evolves in the United States.

In December 2025, the OCC issued conditional approvals to companies including Circle, Ripple, Paxos, Fidelity Digital Assets, and BitGo. Additional approvals in early 2026 involved firms connected to Stripe and Crypto.com.

Industry observers say federal charters can provide several advantages. These include greater institutional credibility, streamlined regulatory compliance, and broader access to traditional financial systems.

However, the push has also drawn criticism from some banking groups. Organizations such as the American Bankers Association and the Independent Community Bankers of America have warned regulators to carefully evaluate crypto related banking approvals due to potential financial risks.

ZeroHash Infrastructure and Market Reach

Founded in Chicago in 2017 by Edward Woodford and Brian Liston, ZeroHash has built a business around providing backend infrastructure that allows companies to integrate crypto services without building the technology or regulatory framework themselves.

The platform supports more than 100 digital assets and offers services such as:

• Fiat to crypto onramps
• Digital asset custody
• Trading infrastructure
• Stablecoin settlement rails
• Tokenization systems
• Crypto payroll tools

The company has processed more than 65 billion dollars in transaction volume across more than 200 jurisdictions.

ZeroHash also counts several major financial firms among its partners, including Morgan Stanley, Interactive Brokers, Stripe, and Franklin Templeton. Integrations include stablecoin conversions and settlement services as well as trading infrastructure for brokerage platforms.

The company has raised over 286 million dollars in funding, including about 100 million dollars in financing during 2025 that valued the firm close to 1 billion dollars. Investors include Point72 Ventures, Bain Capital Ventures, NYCA, Interactive Brokers, SoFi, Apollo, and Tastytrade.

The firm already operates under a significant regulatory framework. It is registered as a Money Services Business with FinCEN and holds money transmitter licenses in 51 U.S. jurisdictions. In 2025, one of its subsidiaries also secured a non depository trust company charter from the North Carolina Commissioner of Banks, allowing it to act as a qualified custodian for certain investment accounts.

CoinLaw’s Takeaway

In my experience covering crypto regulation, federal trust bank charters are becoming one of the most important milestones for digital asset companies. Firms like ZeroHash are clearly trying to position themselves as trusted infrastructure providers for institutions entering crypto and stablecoins.

I found that the race for federal approval shows how quickly stablecoins are moving toward the mainstream financial system. If regulators approve the charter, ZeroHash could strengthen its role as a key infrastructure layer connecting traditional finance with blockchain based payments and assets.

At the same time, the decision from regulators will signal how far the United States is willing to go in integrating crypto firms into the regulated banking system.

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