Zerohash, a blockchain infrastructure provider, has taken a significant step toward broadening its operations across the United States by applying for a banking charter to operate as a national trust bank. With this move, the company aims to bring its crypto asset services fully under federal regulatory supervision. If approved, Zerohash would be able to offer an array of crypto-related offerings directly in accordance with US regulatory frameworks, positioning itself alongside established financial and fintech institutions seeking similar licensing.
Strategic Application for Federal Authority in the US
Founded in 2017, Zerohash has developed solutions enabling banks and fintech companies to integrate blockchain-based services into their platforms. The company’s suite of tools supports cryptocurrency trading, custodial services, and stablecoin payment processing — capabilities already utilized by major global players such as Morgan Stanley, Franklin Templeton, and Stripe. Through these partnerships, end-users can seamlessly access a range of crypto asset transactions, further embedding digital assets into everyday financial services.
Company Details Filing Process and Vision
Stephen Gardner, Zerohash’s head of legal and compliance, underscored the importance of the application as a milestone within the company’s broader growth strategy. Gardner emphasized that securing federal authorization is a natural progression as Zerohash seeks to expand its global licensing footprint and diversify its services portfolio.
The application process marks the next phase in delivering a comprehensive global licensing framework and expanding the range of products and services, Gardner explained.
The company submitted its application in February in accordance with the Office of the Comptroller of the Currency’s (OCC) newest regulations on digital assets. Morgan Stanley and PAYO Digital Bank, among other institutions, launched similar initiatives during the same period, reflecting an industry-wide pursuit of regulatory clarity and operational legitimacy.
Increasing Competition in Crypto Licensing
As national-level regulatory clarity becomes more attractive to crypto companies operating in the US, competition for federal banking charters intensifies. The GENIUS Act, which took effect in July, has accelerated this trend by requiring stablecoin and crypto custody providers to obtain explicit federal approval. According to OCC disclosures, major digital asset firms like Crypto.com, Circle, Ripple, Fidelity Digital Assets, BitGo, and Paxos have already obtained preliminary authorizations.
The OCC has released a draft regulatory framework for implementing the GENIUS Act, signaling a new era of oversight for institutions issuing stablecoins for payment purposes. These regulations are designed to ensure stronger compliance across the sector, compelling all market participants to align with rising legal standards.
With the surge in applications, political figures have begun calling for greater transparency in the review of bank charter requests tied to crypto, particularly in cases involving foreign investment. Most recently, Senator Elizabeth Warren brought attention to the need for deeper oversight and transparency as more cryptocurrency firms seek federal banking status.
