ME News reports that on October 19 (UTC+8), fintech company Ramp stated it submitted an application to the U.S. Office of the Comptroller of the Currency (OCC) on October 16 to establish Ramp National Trust Bank. If approved, the trust bank charter would enable Ramp to offer fiduciary investment management and digital asset custody services under a unified federal regulatory framework. Additionally, the proposed entity will not engage in deposit-taking or commercial lending activities. (Source: ChainCatcher)
Ramp Applies to OCC for National Trust Bank Charter to Offer Digital Asset Custody
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Summary
Fintech firm Ramp has submitted an application to the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter to provide digital asset custody services. This step aligns with ongoing U.S. efforts to regulate digital assets. Ramp’s proposed bank will focus exclusively on custodial and investment management services for digital assets, operating under a federal framework. The entity will not accept deposits or extend loans. Ramp also emphasized its commitment to complying with CFT (Countering the Financing of Terrorism) requirements as part of its regulatory approach.
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