US-based stablecoin infrastructure firm ZeroHash has applied for a national trust bank charter with the Office of the Comptroller of the Currency (OCC), an independent bureau within the US Treasury Department.
This application pertains to establishing ZeroHash National Trust Bank, which will not engage in retail banking, lend, or offer deposit accounts with FDIC insurance on client funds.
According to its submission, ZeroHash aims to provide various specialized digital asset services such as custody of digital assets and fiat currencies, custodial staking and validation activities, transfer agent services, trade execution, stablecoin management, settlement, clearing, and escrow services. A timeline for the OCC’s decision is yet to be announced.
OCC’s Digital Asset Licensing Activities
ZeroHash’s application aligns with an increasing number of digital asset licensing requests processed by the OCC. In a previous instance in December 2025, the OCC granted national trust bank charters to Circle, Ripple, Paxos, Fidelity, and BitGo.
This activity underscores a broader shift toward more lenient regulatory measures for digital asset firms aiming to integrate into the US banking system. Many of these companies are now opting for formal banking structures instead of operating solely under state money transmission licenses.
Background on ZeroHash
In January 2026, ZeroHash secured USD 250 million in funding at a valuation of USD 1.5 billion. The company had previously been considered by Mastercard as a potential acquisition target but the deal did not materialize.
Following this application, ZeroHash has also filed separately with the OCC for its own US national bank charter. Unlike ZeroHash’s trust-focused approach, Revolut is applying to become a full-service bank offering checking and savings accounts to US customers. Additionally, Revolut expressed interest in crypto services and was recently chosen to participate in the UK’s regulatory sandbox to test stablecoins, ahead of final stablecoin rules expected later this year.
The divergent strategies of ZeroHash and Revolut illustrate the varied approaches taken by firms as they seek regulated access to the US financial system.
