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Zerohash Refiles Application for OCC Trust Charter

Zerohash wants to get a national trust charter from the OCC through a narrower request. The application matters for regulated crypto services like custody and stablecoin management.

By Luc Vesters
• 2 min read
Zerohash Refiles Application for OCC Trust Charter

Key Takeaways

  • Zerohash filed another application for a U.S. national trust bank charter with the OCC.
  • The regulator sent back the first application because of material shortcomings; there has been no response to the new application.
  • The application runs through September 17, while several crypto-native companies recently received preliminary trust charters.

Zerohash has once again filed an application for a U.S. national trust bank charter after the first attempt was sent back by the Office of the Comptroller of the Currency. The crypto infrastructure company now says it is coming with a narrower, more targeted request, while the public comment period runs through September 17.

New Attempt at the OCC

The OCC, the regulator that charters national banks and trust companies, sent back the first application last month because of material shortcomings. Zerohash had already said it wanted to file a new application quickly and that it would be less ambitious than the first version.

According to earlier comments from the company, the goal was a more focused approval for national trust activities, aligned with the planned rollout. Zerohash and the OCC did not respond to questions about the new application.

More Pressure on Trust Charters

The application comes at a time when several crypto-native companies recently received preliminary trust charters, while two applications were rejected. That makes Zerohash's returned application stand out, because it is the only one the regulator has sent back instead of approving or rejecting it outright.

The context matters for European crypto readers, because U.S. trust charters are increasingly being used to offer regulated crypto services without immediately going after a full banking license. In practice, that often means services like custody, staking, and stablecoin management, exactly the parts that matter to institutional players.

For Zerohash, that route fits into a broader trend in which regulated crypto companies are trying to bring their services under a clearer supervisory framework. That is also visible in the first returned application, which the regulator already judged last month to have material shortcomings.

Zerohash's Institutional Role

Zerohash already operates as a trust bank with a state license and provides crypto infrastructure to major financial names such as BlackRock, Franklin Templeton, Stripe, Interactive Brokers, and DraftKings. The company is also involved in a lawsuit in California over alleged wrongful termination, where the former chief compliance officer says he was fired after uncovering multiple compliance issues.

That mix of institutional clients, regulatory ambitions, and an ongoing lawsuit makes the new application especially relevant. For firms that want to roll out crypto services through regulated providers, it shows how important the U.S. licensing structure remains for the sector.

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