ZeroHash applies for OCC trust bank charter to issue stablecoins

Crypto firm ZeroHash submitted an application to the U.S. Office of the Comptroller of the Currency (OCC) seeking a national trust bank charter. The license would allow the firm to issue stablecoins, offer digital asset custody, and manage reserve assets under federal supervision in the United States. The charter would not authorize deposit-taking or commercial lending.

The application aims to bring operations under a single federal framework rather than a patchwork of state rules, according to the company. The OCC is reviewing the request and has not provided a decision timeline.

Founded in 2017 and based in Chicago, ZeroHash builds infrastructure that lets businesses add stablecoin and digital asset features to payments, trading and payroll. The firm holds licenses in 51 U.S. jurisdictions and operates internationally. Its client list includes Morgan Stanley, Interactive Brokers, Stripe and Franklin Templeton.

ZeroHash has pointed to recent legislative developments as a factor in its plan. The company cited provisions in the Genius Act that clarify how stablecoins are treated under U.S. law.

The application comes amid a series of preliminary OCC approvals for national trust bank charters at other digital asset firms. In the past month, Bridge, the stablecoin affiliate of Stripe, and Crypto.com received initial clearance. In December, Circle Internet (CRCL), Ripple, Paxos, Fidelity Digital Assets and BitGo obtained similar approvals. A crypto venture tied to President Donald Trump’s family, World Liberty Financial, also filed an application with the OCC to form a national trust bank issue and custody the USD1 stablecoin.

The OCC charters national trust banks that primarily offer custody and fiduciary services for digital and traditional assets. Approval would place ZeroHash’s stablecoin issuance, custody and reserve management under the agency’s oversight.