Summary
- Laser Digital has applied to the U.S. Office of the Comptroller of the Currency for a national trust bank charter, seeking to expand a business centered on spot trading and custody of crypto assets.
- If approved, it would secure a federal-level regulatory pathway without state-by-state custody licenses, a strategy aimed at bringing digital-asset trading and custody within the regulatory framework.
- The OCC bank charter process can take more than a year, from conditional approval to demonstrating capital adequacy and operational readiness, as applications tied to stablecoins and U.S. bank charters continue to spread.
Laser Digital, a crypto asset firm under Japanese financial group Nomura, is seeking to expand its business within the regulatory framework by applying for a U.S. bank charter. The company plans a business model centered on spot crypto trading and custody, without taking deposits directly.
According to CryptoNews.com on the 27th (local time), the Financial Times reported that Laser Digital has applied to the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter. If granted, it would secure a federal regulatory pathway without needing to obtain separate custody approvals state by state.
Laser Digital is a crypto-focused firm spun off from Nomura in 2022. The report said that under this charter structure, it would not accept customer deposits directly, and would instead focus on providing spot crypto trading services. The move is seen as a strategy to bring digital-asset trading and custody within the regulated system rather than offering traditional banking functions.
The application comes amid a shift in Washington’s regulatory stance. Since President Donald Trump took office, more fintech and crypto firms have been attempting to expand via federal charters, and efforts are spreading to move payments, custody and stablecoin businesses under federal oversight.
The OCC’s bank charter process generally proceeds in two stages. After receiving conditional approval, applicants must demonstrate capital adequacy and operational readiness to obtain final approval, and the overall process can take more than a year. Under the previous administration, there were many cases in which applications were withdrawn after failing to clear hurdles from the early stages.
Beyond Laser Digital, the queue of applicants continues to grow. World Liberty Financial, linked to President Trump, said earlier this month that it had applied for a national trust bank charter tied to a stablecoin business. In Europe, Revolut is reported to have shelved plans to acquire a U.S. bank and is preparing to apply for a standalone U.S. bank charter.
YM Lee
20min@bloomingbit.ioCrypto Chatterbox_ tlg@Bloomingbit_YMLEE
