ZeroHash, which develops behind-the-scenes crypto infrastructure for businesses, said it has applied for a National Trust Bank charter from the U.S. Office of the Comptroller of the Currency (OCC), seeking to operate under federal regulatory oversight.
If approved, the statute would grant ZeroHash permission to issue stablecoins, custody digital assets, and manage reserves under direct federal supervision. It would not be allowed to accept customer deposits or make commercial loans.
That status could allow the Chicago-based company, which already holds licenses in 51 U.S. jurisdictions and operates internationally, to expand its stablecoin and digital asset services under a single federal framework, rather than navigate a patchwork of state-by-state rules.
ZeroHash is following a path forged by other crypto companies. Last month, several companies received initial approval for national bank trust charters. These include Bridge, stablecoin firm Stripe, and cryptocurrency exchange Crypto.com. In December, Circle Internet (CRCL), Ripple, Paxos, Fidelity Digital Assets, and BitGo received similar approvals.
Founded in 2017, the ZeroHash platform enables businesses to incorporate stablecoins and digital asset functionality into services such as payments, commerce, and payroll.
His clients include financial heavyweights such as Morgan Stanley, Interactive Brokers, Stripe, and Franklin Templeton.
In practical terms, a federal trust statute would allow ZeroHash to offer services that align with recent legislative developments, including provisions of the Genius Act, which clarifies the legal treatment of stablecoins in the US.
The OCC is now reviewing the application. No timeline has been given for approval.
