ZeroHash Seeks Trust Bank Status to Expand Crypto Services

ZeroHash, a developer of tools for stablecoins, has filed with the Office of the Comptroller of the Currency (OCC) to obtain a national trust bank charter. This designation would allow the firm to provide specialized digital‑asset services without operating a traditional retail banking business.

What ZeroHash Plans to Offer

• Custody for both crypto and fiat assets
• Management of staking and validation processes
• Acting as a transfer agent
• Execution of trades
• Oversight of stablecoin operations
• Settlement, clearing, and escrow services

The company explicitly states it will not open deposit accounts or seek FDIC insurance.

Recent Developments

• A failed partnership with Mastercard earlier this year
• $250 million raised at a valuation of $1.5 billion
• Joining a growing cohort of crypto‑focused entities pursuing banking licenses, including Morgan Stanley Digital Trust and World Liberty Trust Company

The OCC approved charters for Circle, Ripple, Paxos, Fidelity, and BitGo in December; ZeroHash’s approval timeline remains uncertain.

Broader Context

Across the Atlantic, Revolut has applied for a full U.S. bank charter to offer checking and savings accounts, emphasizing the United States as a key element of its global expansion strategy.