Blockchain infrastructure provider Zerohash has applied for a US national trust bank charter, joining a growing list of digital asset firms seeking federal banking approval as regulation around stablecoins and crypto services evolves.
The company confirmed that it submitted its application to the Office of the Comptroller of the Currency on Feb. 27. If approved, the charter would allow Zerohash to operate as a federally regulated trust bank and expand services such as digital asset custody, trust management and stablecoin-related financial infrastructure.Executives say the move is designed to strengthen the company’s role as a crypto payment and settlement provider for traditional financial institutions.
Stablecoin Regulation Drives Demand for Federal Banking Licenses
Interest in national trust bank charters has accelerated since Donald Trump signed the GENIUS Act into law in July. The legislation established a clearer regulatory framework for stablecoins and digital asset services within the United States.Under this environment, obtaining a federal charter allows crypto firms to operate under a unified regulatory structure while expanding services to banks, brokerages and fintech platforms.
Zerohash already works with several major financial institutions, including Morgan Stanley, Interactive Brokers, Stripe and Franklin Templeton, providing infrastructure for digital asset trading, settlement and custody.
Multiple Crypto Firms Secure Conditional Approval
In recent months, several digital asset companies have secured conditional approval for national trust bank charters. Among them are Crypto.com, Bridge and Stripe.
Several other financial and crypto companies are still waiting for regulatory decisions on their charter applications. These include Coinbase and crypto trading platform Laser Digital.Meanwhile, financial services provider Payoneer and Trump family-backed World Liberty Financial have also applied for banking licenses as they seek to expand stablecoin related services.
Regulators say the entry of new firms into the federal banking system could encourage competition and innovation, while ensuring emerging digital asset services operate under established financial oversight.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.