Zerohash Resubmits Application for OCC National Trust Bank Charter

Zerohash has quietly restarted its push for a federal banking charter, filing a second application for a U.S. national trust bank on Aug. 19 — roughly a month after the Office of the Comptroller of the Currency (OCC) returned its initial submission. What was filed - The OCC’s public record lists the proposed institution as Zerohash National Trust Bank, to be headquartered in Asheville, North Carolina, and organized under a holding company structure if approved. - The agency opened a 30-day public comment window on Aug. 18; comments must be received by Sept. 17. The OCC currently shows the new filing as “received” but has not indicated approval, denial or other regulatory action. - The second application was issued a new OCC control number and proposed charter number. Why Zerohash reapplied - The OCC first received Zerohash’s charter bid on March 2 and returned that filing on July 17. A returned application is not a merits-based denial — it typically means the submission did not advance in its original form. - Zerohash says the initial return was “in coordination with the OCC” and “not a substantive decision on the merits,” and that the new filing narrows its request to “a more focused approval of national trust activities aligned with our intended rollout timeline.” The OCC has not publicly confirmed those descriptions, and neither party has specified which activities were removed or tightened. What a national trust bank charter would mean - A national trust bank charter would place Zerohash under direct OCC supervision. Limited-purpose trust banks historically can offer custody and approved trust services without operating as full-service commercial banks that take FDIC-insured deposits or make conventional loans. - In April 2026, the OCC clarified its national bank chartering rule to state that national trust banks may conduct trust company operations and related activities, including certain nonfiduciary services. - Zerohash already operates under multiple regulated entities: Zerohash Trust Company (a nondepository trust company chartered by the North Carolina Commissioner of Banks) and Zerohash LLC (which holds money transmitter licenses and a New York BitLicense). A national charter could centralize federal supervision for approved activities but would not automatically authorize every service currently offered across these separate entities and licenses. Business footprint and industry context - Zerohash provides crypto trading, custody, and stablecoin infrastructure to financial and technology firms. Publicly disclosed partners include Morgan Stanley, BlackRock, Stripe, Franklin Templeton and Interactive Brokers. - Crypto.news previously reported Zerohash as the infrastructure provider for Bitcoin, Ethereum and Solana trading on E*TRADE; Morgan Stanley plans to migrate that service into its own proposed national trust bank later in 2026, though no firm transition date has been announced. - Zerohash’s renewed filing arrives amid a broader wave of digital-asset firms seeking OCC trust-bank charters this year. The OCC has issued conditional approvals to several players, including Circle, Ripple, BitGo, Fidelity Digital Assets and Paxos. Conditional approval is an interim step; applicants must still satisfy capital, governance, compliance and operational requirements before receiving final authorization. Potential scrutiny and next steps - Zerohash is defending a separate California lawsuit from former chief compliance officer Edgar Guerra, who alleges he was fired after raising compliance concerns. The company has not been found liable and the claims remain unresolved. While the litigation and the prior application return could attract regulatory scrutiny, the OCC has not publicly tied the lawsuit to its earlier decision to return the filing. - After the Sept. 17 comment deadline, the OCC may seek additional information, impose conditions, approve, or reject the application. No schedule for a final decision has been published. How to weigh in - Interested parties can submit comments through Sept. 17 under OCC control number 2026-Charter-347313. The OCC notes that comments become part of the public record and may include support, objections or requests for specific licensing conditions. This resubmission keeps Zerohash in the middle of the ongoing debate over how federal banking charters should apply to crypto-native services — and whether a national trust bank charter will become the preferred path for firms seeking a single, federal regulator for custody and trust activities.