Zerohash Renews Bid for National Trust Bank Charter

The OCC officially recorded the revised application on August 19, initiating a 30-day public comment window that closes on September 17. While the regulator returned the firm's previous March 2 submission, Zerohash maintains that the move was procedural rather than a rejection on the merits of its business model. The company, which provides crypto trading and custody infrastructure for institutions like Morgan Stanley and BlackRock, intends to align its federal charter request with a focused rollout strategy.

Securing a national trust bank charter would grant Zerohash a unified federal supervisory relationship, distinct from the state-level licenses it currently holds in North Carolina and New York. While this status would allow for expanded custody and nonfiduciary services, it does not function as a full-service commercial banking license. The path forward remains subject to rigorous review; the OCC must evaluate the new filing alongside ongoing developments, including a pending lawsuit from a former compliance officer and the company's existing regulatory footprint. Final authorization depends on the firm meeting stringent capital and governance requirements, with no set deadline for the agency's ultimate decision.