US-based stablecoin infrastructure firm ZeroHash has filed an application for a national trust bank charter with the Office of the Comptroller of the Currency (OCC), an independent bureau of the US Treasury Department.
The application is for ZeroHash National Trust Bank, a structure that would not involve retail banking, lending, deposit accounts, or FDIC insurance on client funds.
According to its application, ZeroHash is seeking to offer a range of specialised digital asset services, including custody of 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. No timeline has been indicated for when the OCC may decide on the application.
OCC digital asset licensing activity
ZeroHash's application comes as the OCC's pipeline of digital asset licensing requests has grown considerably. In December 2025, the OCC approved banking charters for Circle, Ripple, Paxos, Fidelity, and BitGo. Current applications also include Morgan Stanley Digital Trust and World Liberty Trust Company.
The expansion of OCC licensing activity reflects a broader shift in the regulatory posture towards digital asset firms seeking access to the US banking system, with a growing number of crypto-focused companies pursuing formal banking structures rather than operating solely under state-level money transmission licences.
ZeroHash background
In January 2026, ZeroHash raised USD 250 million at a valuation of USD 1.5 billion. The company had previously been reported as a potential acquisition target for Mastercard, though that deal did not proceed.
ZeroHash's application follows Revolut's separate filing for a US national bank charter, also with the OCC. Unlike ZeroHash's trust bank application, Revolut is seeking to operate as a full-service bank offering checking and savings accounts to US customers. Revolut has also indicated an interest in offering crypto services, and was selected last month to participate in the UK's regulatory sandbox to test stablecoins, ahead of the release of final UK stablecoin rules expected later in 2026.
The parallel applications from firms with distinct business models, trust-focused digital asset infrastructure on one side and full-service retail banking on the other, illustrate the range of approaches being pursued as crypto and fintech companies seek regulated access to the US financial system.
