Odaily Planet Daily reports that cryptocurrency infrastructure company Zerohash has submitted an application to the U.S. Office of the Comptroller of the Currency (OCC) to obtain a National Trust Bank license to expand its digital asset service capabilities.
According to the submitted documents, the trust bank plans to offer various digital asset-related services, including digital asset and fiat currency custody, custody staking and verification services, transfer agency services, trade execution, stablecoin management, as well as settlement, clearing, and escrow accounts. Zerohash Chief Legal Officer Stephen Gardner has been nominated as the trust bank’s CEO.
This application continues the regulatory approach of several other crypto companies. Previously, Ripple, Circle, and BitGo also applied to establish federally regulated trust banks and received conditional approval from the OCC in December last year.
It should be noted that even if the license is granted, Zerohash will still be unable to conduct traditional banking activities such as accepting deposits or issuing loans. However, the license will enable the company to operate under a federal regulatory framework, making it easier to attract institutional clients.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Solana Foundation: Has Processed 15 Million On-Chain AI Payments, Stablecoins Becoming Default Settlement Tool
Solana's Chief Product Officer stated that the Solana network has processed 15 million on-chain payments from AI agents, with stablecoins becoming the primary settlement tool. The programmable nature of AI payments gives them an advantage in cryptocurrency payments, and it is expected that most crypto transactions will be initiated by large language models in the future.
BlockBeatNews47m ago
Obex Deploys $1 Billion Distributed Investment to Enhance Yield on Sky's USDS Stablecoin
Cryptocurrency incubator Obex announces deployment of $1 billion to connect Sky ecosystem's USDS stablecoin with real-world assets, focusing on investments in credit, energy, and AI assets to enhance USDS holder yields and drive the Sky ecosystem beyond pure crypto returns. Sky is the world's third-largest stablecoin issuer and plans to increase USDS supply to $20 billion.
BlockBeatNews48m ago
Solana Foundation: Has processed 15 million on-chain payments for AI agents, with stablecoins becoming the default settlement method
At the New York Digital Assets Summit, Solana executive Vibhu Norby revealed that the network has processed 15 million on-chain payments from AI agents, with stablecoins serving as the primary settlement tool. The programmable nature of AI payments will revolutionize internet business models, and he predicts that 95% to 99% of crypto transactions in the future will be initiated by large language models.
GateNews51m ago
Franklin Templeton Collaborates with Ondo to Issue Tokenized ETF
Franklin Templeton partners with Ondo Finance to launch tokenized versions of five ETFs, targeting crypto-native investors. These on-chain funds will enable 24/7 trading and integrate into DeFi. The move marks a significant expansion into tokenization for Franklin Templeton.
TapChiBitcoin1h ago
BitMine Announces Launch of Institutional-Grade Ethereum Staking Platform MAVAN
BitMine announces the launch of MAVAN, an institutional-grade Ethereum staking platform that supports validator infrastructure for both internal and external clients. The platform is expected to expand to more ETH assets, combining U.S. and global infrastructure. Recently staked 101,776 ETH, with projected annual returns approaching $300 million.
BlockBeatNews1h ago
