Zerohash files second OCC trust bank application amid public comment
Zerohash has filed a second application for an Office of the Comptroller of the Currency (OCC) national trust bank charter. The OCC recorded the revised OCC trust bank filing on Aug. 19, about one month after returning the first submission.
The OCC opened public comments on the revised OCC trust bank application through Sept. 17 (control number 2026-Charter-347313). The public record currently shows the application as “received” and does not indicate OCC approval or rejection.
Zerohash said the updated bid is more focused, seeking narrower national trust activities aligned with its rollout timeline. The filing would name the proposed institution “Zerohash National Trust Bank,” based in Asheville, North Carolina, and would operate under a holding-company structure if approved.
The company’s previous first charter application was received March 2 and returned July 17. The OCC did not publicly explain why it returned the filing, and a returned application is not the same as a denial on the merits.
If approved, a national trust bank charter would place Zerohash under direct OCC regulation for approved trust activities. Zerohash already operates via regulated entities, including a nondepository trust company and money-transmitter/bitlicense arrangements, so a federal charter would unify oversight for banking-permitted services rather than automatically greenlight all existing offerings.
Zerohash provides crypto trading, custody, and stablecoin infrastructure to major financial and tech platforms, with disclosed partners including Morgan Stanley, BlackRock, Stripe, Franklin Templeton, and Interactive Brokers. Morgan Stanley has said it plans to transfer certain services to its own proposed national trust bank later in 2026.
Separately, Zerohash is contesting a California lawsuit involving former chief compliance officer Edgar Guerra, with allegations that he was dismissed after raising compliance concerns.
Traders should watch the comment period and any OCC follow-ups, as timing and potential conditions could affect expectations around U.S. crypto custody and regulated stablecoin rails.
Neutral
This is a regulatory progress update, not an approval. A second OCC trust bank application suggests Zerohash is addressing earlier filing issues, but the OCC has only opened a comment window and the record shows “received” status—meaning no immediate permission to operate.
In similar historical patterns with U.S. charter filings, market sentiment often improves modestly when a revised application is accepted/recorded (reducing “dead-on-arrival” risk), but the lack of a clear approval timeline usually caps near-term impact. The comment period can add uncertainty—stakeholders may request additional conditions on capital, governance, or operational scope—leading to volatility in expectations.
Short term: traders may see a mild positive tone for U.S.-compliant custody/stablecoin rails, but crypto price action is unlikely to be driven solely by this headline.
Long term: if the OCC ultimately approves (or imposes clear, manageable conditions), it could strengthen the narrative for institutional custody and regulated stablecoin infrastructure, which is generally supportive for market structure. However, until approval is granted, the impact on overall market stability is likely limited, keeping the signal largely neutral.