Zerohash applies to the U.S. OCC for a National Trust Bank license

YM Lee

Summary

It reported that Zerohash US submitted an application to the U.S. Office of the Comptroller of the Currency (OCC) for approval to establish a National Trust Bank.
It said the company plans to provide custody services for digital assets, fiat currency and other assets via the trust bank, along with services such as custody staking and stablecoin administration.
It reported that Zerohash provides digital-asset infrastructure to banks, brokerages and fintech companies, and counts Kalshi and BlackRock among its clients.

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Digital asset (cryptocurrency) infrastructure firm Zerohash has applied to the U.S. Office of the Comptroller of the Currency (OCC) for approval to operate as a national trust bank.

According to a Bloomberg report on the 4th (local time), Zerohash’s U.S. subsidiary, Zerohash US, submitted an application to the OCC to establish a National Trust Bank.

The filing says Zerohash plans to offer custody services for digital assets, fiat currency and other assets through the trust bank. It also intends to run digital-asset services including custody staking, asset-transfer agency services and stablecoin administration.

Zerohash’s chief legal officer (CLO) Stephen Gardner has been named as the candidate to serve as chief executive officer (CEO) of the newly established trust bank.

Zerohash provides digital-asset infrastructure to banks, brokerages and fintech companies, and counts the prediction-market platform Kalshi and asset manager BlackRock among its clients.

Unlike commercial banks, trust banks are not permitted to take deposits or make loans. Instead, they focus their business on fiduciary services such as safeguarding and managing assets.