ZeroHash applies for national trust bank charter to expand regulated stablecoin services
ZeroHash has applied for a National Trust Bank Charter from the OCC to offer regulated stablecoin and digital asset services under federal oversight.Summary
ZeroHash, a developer of behind-the-scenes crypto infrastructure for businesses, has applied to the U.S. Office of the Comptroller of the Currency (OCC) for a National Trust Bank Charter. If approved, this charter would allow the Chicago-based company to issue stablecoins, custody digital assets, and manage reserves under direct federal oversight, enabling expansion under a single federal framework rather than navigating varied state-by-state regulations. The charter would not permit ZeroHash to take customer deposits or engage in commercial lending. ZeroHash's platform enables clients like Morgan Stanley and Stripe to embed stablecoin functionality into services such as payments and payroll. This move follows similar applications by other crypto firms, and the federal charter would allow ZeroHash's services to align with recent legislative developments concerning stablecoins, such as provisions in the Genius Act. The OCC is currently reviewing the application, and no approval timeline has been provided.
(Source：CoinDesk)