Crypto infrastructure provider Zerohash filed an application on March 4, 2026, for a national trust bank charter from the Office of the Comptroller of the Currency (OCC), mirroring Morgan Stanley's February filing for its Morgan Stanley Digital Trust subsidiary. The move bolsters partnerships for institutional crypto services amid a surge in similar applications from crypto firms.
Zerohash has provided crypto and stablecoin infrastructure to financial institutions since 2017, serving as a backend enabler rather than direct consumer services. Key clients include Interactive Brokers, Stripe, BlackRock's BUIDL Fund, Franklin Templeton, DraftKings, Kalshi, Lightspark, Tastytrade, and Republic. The platform reaches over five million end users in 190 countries via regulated entities in 51 U.S. jurisdictions. CEO Edward Woodford compares Zerohash to 'the Amazon Web Services of on-chain infrastructure,' focusing on foundational tools without competing with client applications.
In September 2025, Zerohash raised $104 million in a Series D-2 round at a $1 billion valuation, led by Interactive Brokers with Morgan Stanley, SoFi, Apollo-managed funds, and Jump Crypto. That month, Morgan Stanley partnered with Zerohash to enable crypto trading on its E*TRADE platform in the first half of 2026. Morgan Stanley's proposed Digital Trust entity, based in Purchase, New York, would handle digital asset custody and fiduciary services using Zerohash's infrastructure.
Zerohash already operates under a North Carolina trust company charter (granted March 2025, active September 2025), FinCEN registration, and money transmitter licenses in 51 jurisdictions. A national OCC charter offers federal oversight, unified regulation, and compliance with the GENIUS Act (passed July 2025) for stablecoin payments, tokenized settlements, and custody.
This application aligns with accelerated OCC activity on crypto charters and a rule effective April 1, 2026, affirming national trust banks' crypto custody role—though traditional banks are considering challenges. Public comments on Morgan Stanley's filing close March 20; Zerohash's review continues without a set timeline.
