Digital asset infrastructure provider Zerohash has applied for a national trust bank charter with the US Office of the Comptroller of the Currency to expand its digital asset custody and settlement services.
The Chicago-based firm, which provides crypto infrastructure for banks, brokerages and fintech platforms, lists clients including Kalshi and asset manager BlackRock.
The proposed trust bank would provide custody for digital assets, fiat currency and other assets while also offering custodial staking, transfer agent services and stablecoin management.
Trust banks differ from traditional banks because they cannot accept deposits or issue loans but can hold assets and manage custody services.
The application places Zerohash among a growing group of crypto firms seeking federal trust charters during Donald Trump’s second administration.
In December, the OCC granted conditional approval for trust charters requested by Circle, Ripple, BitGo, Fidelity Digital Assets and Paxos.
The move comes as crypto firms deepen integration with the financial system, highlighted by Kraken recently securing a Federal Reserve master account to access the Fedwire payment network.