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ZeroHash, a Chicago-based digital asset infrastructure firm, has applied to the U.S. Office of the Comptroller of the Currency for a national trust bank charter, according to company confirmation.
The application positions ZeroHash alongside Stripe, Crypto.com, and others seeking federal regulatory oversight for stablecoin issuance—a trend signaling the crypto industry’s shift toward regulated banking models and clearer federal rules.
However, the authorization would not transform the firm into a traditional bank. Under the terms of a national trust charter, the company would be barred from taking deposits from customers or issuing loans.
Instead, the ZeroHash bank charter would allow the infrastructure provider to focus on regulated digital asset services — a business line that has become increasingly important as financial institutions integrate blockchain-based payments and tokenized assets.
One of the biggest hurdles for crypto infrastructure companies operating in the United States is regulatory fragmentation. Firms often must secure licenses in each individual state where they offer services.
The ZeroHash bank charter could eliminate much of that complexity by allowing the company to operate under a single federal regulatory framework.
Currently, ZeroHash holds licenses across all 50 U.S. states and Washington, D.C., giving it approval in 51 jurisdictions. But managing compliance across that patchwork can be expensive and operationally complex.
A federal charter would centralize oversight through the OCC, potentially allowing the company to scale its stablecoin operations more efficiently.
Founded in 2017, ZeroHash provides the backend technology that allows companies to embed digital asset functionality into their platforms. Its infrastructure supports use cases such as payments, trading, remittances and payroll systems powered by stablecoins.
The firm’s client roster includes major financial institutions and fintech players such as Morgan Stanley, Interactive Brokers, Stripe, and Franklin Templeton.
According to Edward Woodford, regulated infrastructure will play a central role in bringing digital assets into mainstream finance.
“Regulated rails are essential for institutional adoption,” Woodford said in previous remarks about the company’s strategy. “Financial institutions need compliant infrastructure if they’re going to integrate digital assets into everyday financial services.”
If approved, the ZeroHash bank charter would strengthen that infrastructure by placing the firm directly under federal banking supervision.
ZeroHash is not alone in seeking a federally regulated trust structure.
In recent months, several digital asset firms have pursued similar charters, reflecting growing momentum toward regulated crypto banking models.
Within the past month, fintech company Stripe saw its stablecoin-focused subsidiary Bridge receive preliminary approval for a national trust charter. Meanwhile, cryptocurrency exchange Crypto.com also secured an initial green light for a similar structure.
Earlier approvals have also gone to several major crypto firms, including Circle Internet Financial, Ripple Labs, Paxos, Fidelity Digital Assets, and BitGo.
The surge in applications signals that crypto firms increasingly see national trust charters as the most viable regulatory path for stablecoin issuance and digital asset custody in the United States.
Trust banks operate under strict regulatory supervision but are limited in scope compared with full commercial banks. They typically specialize in asset custody, fiduciary services and payment infrastructure — areas that align closely with crypto service providers.
For companies like ZeroHash, the ZeroHash bank charter would provide credibility with institutional clients while avoiding the regulatory burden associated with traditional banking operations.
The ZeroHash bank charter application also comes at a time when U.S. lawmakers are working to establish clearer rules for stablecoins.
Recent legislative proposals — including provisions contained in the GENIUS Act — aim to define how stablecoins should be regulated, particularly regarding reserve management and consumer protection.
Such legislation could formalize the role of federally supervised entities in issuing and managing dollar-pegged tokens.
According to Jeremy Allaire, regulatory clarity is essential for stablecoins to reach their full potential in global finance.
“Clear federal regulation is key to unlocking the full potential of digital dollars on the internet,” Allaire said in prior comments about stablecoin policy in the U.S.
Should the ZeroHash bank charter be approved, the company would be positioned to operate squarely within that emerging regulatory framework.
For institutional clients exploring tokenized payments or blockchain settlement systems, a federally regulated infrastructure provider could reduce compliance risks and accelerate adoption.
The U.S. Office of the Comptroller of the Currency is now reviewing the ZeroHash bank charter application. Regulators have not provided a timeline for when a decision might be reached.
Approval would place ZeroHash among a growing group of crypto firms operating under national trust charters — a model that could become central to the regulated stablecoin economy in the United States.
Until then, the ZeroHash bank charter bid remains another sign that the crypto industry is moving steadily toward deeper integration with the traditional financial regulatory system.
If successful, the ZeroHash bank charter could strengthen the company’s role as a critical infrastructure provider powering the next generation of digital payments and tokenized financial services.
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