ZeroHash Seeks Federal Trust Charter as Digital Asset Firms Accelerate Push Into Regulated Banking

The race among cryptocurrency infrastructure companies to secure formal recognition within the U.S. financial system is gaining momentum. Digital asset infrastructure providerspan>ZeroHash/span> has now taken a significant step in that direction by applying for a national trust bank charter with thespan>Office of the Comptroller of the Currency/span>, the federal regulator responsible for supervising national banks.

The application reflects a broader shift in strategy among crypto firms seeking deeper integration with traditional finance. Rather than pursuing a full commercial banking license, ZeroHash is requesting approval for a specialized trust bank designation. The structure would allow the company to offer a range of digital asset services under federal oversight while avoiding the responsibilities associated with retail banking, such as consumer lending or insured deposit accounts.

In its filing, the company outlined a suite of services it plans to provide if the charter is granted. These include digital asset custody, fiat custody, and custody of other financial assets, alongside operational services such as custodial staking, blockchain validation, and trade execution. The proposed framework would also enable the firm to manage stablecoins, operate as a transfer agent, and provide settlement, clearing, and escrow services tied to digital assets.

The trust charter would effectively position ZeroHash as a federally regulated infrastructure provider for crypto markets, offering institutional-grade services within a formal banking framework. That model has become increasingly attractive as regulators and large financial institutions seek clearer guardrails for interacting with digital assets.

The move comes amid a surge in applications to the OCC from companies aiming to operate regulated crypto financial services in the United States. In recent months, firms such asspan>Circle/span>,span>Ripple Labs/span>,span>Paxos/span>,span>Fidelity Digital Assets/span> andspan>BitGo/span> have received conditional approvals for similar trust charters, underscoring the rapid institutionalization of the sector.

Additional applications continue to enter the regulatory pipeline, including proposals fromspan>Morgan Stanley/span> through its digital asset trust initiative andspan>World Liberty Financial/span>, a crypto venture connected to the Trump family. The growing list of applicants illustrates how digital asset companies are attempting to secure long-term legitimacy through federal licensing.

ZeroHash’s regulatory push follows a major funding round earlier this year. In January, the firm raised $250 million at a valuation of approximately $1.5 billion. The capital raise came after a previously reported acquisition byspan>Mastercard/span> failed to materialize, though neither party publicly disclosed the reasons behind the collapse of the deal.

At the same time, traditional fintech companies are also seeking deeper entry into the U.S. banking system. British financial technology firmspan>Revolut/span> recently applied for a full national bank charter with both the OCC and thespan>Federal Deposit Insurance Corporation/span>. Unlike ZeroHash’s limited trust charter application, Revolut’s proposal would allow it to operate checking and savings accounts, provide lending services and eventually expand crypto offerings under a single federal license.

Currently serving U.S. customers through a partnership with Lead Bank in Missouri, Revolut hopes a national charter would grant direct access to key payment infrastructure such as Fedwire and the Automated Clearing House network.

Together, these developments signal a defining moment for the digital asset industry. As crypto companies pursue regulated status and fintech firms seek broader banking powers, the boundaries between traditional finance and blockchain-based services are becoming increasingly blurred.

Whether ZeroHash secures its trust charter remains uncertain, but the application itself highlights the accelerating institutional shift toward regulated digital asset infrastructure in the United States.