Zerohash Applies for U.S. Trust Bank Charter to Expand Digital Asset Services

Zerohash has applied to the Office of the Comptroller of the Currency (OCC) for approval to establish a national trust bank focused on digital asset services, according to a regulatory filing.

The proposed entity would offer a range of services including custody of digital assets and fiat funds, custodial staking and validation, trade execution, transfer agent functions, and services linked to stablecoin management. The filing also outlines plans for settlement, clearing, and escrow capabilities. Stephen Gardner, the firm’s chief legal officer, has been proposed as chief executive of the trust bank.

If approved, the structure would allow the company to provide regulated asset servicing to institutional clients under federal oversight, though it would not operate as a traditional commercial bank with retail deposits or lending.

The application reflects a broader trend of digital asset firms seeking national trust bank charters from the OCC. Companies such as Ripple, Circle, and BitGo previously received conditional approvals for similar structures aimed at regulated crypto custody and infrastructure services.

The approval process can take several months and typically includes regulatory reviews of compliance programs, capital standards, and operational controls.