Chicago-based crypto infrastructure provider Zerohash filed for a national trust bank charter from the Office of the Comptroller of the Currency on March 4, 2026, becoming the eleventh company to do so in 83 days. The move, amid a wave of similar applications from firms like Circle, Ripple, and Coinbase, aims to enable nationwide custody of digital assets, fiat, staking, and stablecoin services, bypassing state licenses.
Zerohash, which supports banks, brokerages, and fintechs including Kalshi and BlackRock with crypto infrastructure, submitted paperwork to the OCC for a national trust bank charter. Chief legal and compliance officer Stephen Gardner, who would serve as CEO of the proposed entity, stated: "Stablecoins and digital assets are increasingly becoming part of the core financial system. Applying for a national trust bank charter is a natural next step in offering robust global licensing coverage and continuing to expand our product offering."
The charter would allow custody of digital assets, fiat, and other assets across all 50 states under federal oversight, along with custodial staking, transfer agent services, and stablecoin management. Unlike full banks, it prohibits accepting consumer deposits or issuing loans as primary functions. The OCC oversees about 60 such banks holding nearly $2 trillion in custody assets.
This is the 11th filing or approval in 83 days, following conditional approvals for Circle (First National Digital Currency Bank), Ripple, BitGo, Paxos, and Fidelity Digital Assets on December 12, 2025; Protego and Bridge (Stripe's stablecoin arm) in early February 2026; Morgan Stanley on February 18; Crypto.com on February 23; and Payoneer on February 24. Pending: Coinbase and World Liberty Financial. Only Anchorage Digital Bank is fully operational to date.
The surge stems from post-2023 scrutiny of sponsor bank partnerships, pushing fintechs toward direct charters. Protego's approval is its second attempt after a 2021 conditional nod expired. An OCC rule effective April 1, 2026, clarifies non-fiduciary activities like custody.
Earlier in 2026, Mastercard explored acquiring Zerohash for up to $2 billion but settled on strategic investment talks for tech access. Traditional banks oppose, with the American Bankers Association rejecting a CLARITY Act compromise on March 5 over stablecoin deposit risks. State supervisors decry 'Franken-charters.' DECTA CEO Scott Dawson noted stablecoin infrastructure nearing mainstream regulated finance. Access to Fed payment rails remains unresolved.
