According to reports from crypto.news and CoinDesk, Zerohash submitted a second application for a U.S. national trust bank charter on August 19, approximately one month after the Office of the Comptroller of the Currency returned its original filing. The OCC recorded the revised application and opened public comments through September 17, 2026. The proposed institution would be based in Asheville, North Carolina, and operate under a holding company structure if approved. As reported by crypto.news, Zerohash stated its revised bid would pursue narrower national trust activities aligned with its intended rollout plans. A CoinDesk spokesperson confirmed the company intended to refile in August with a more focused approach representing national trust activities aligned with our intended rollout timeline.
According to the OCC's public database, the agency received Zerohash's first charter application on March 2 and returned it on July 17. The regulator assigned the second application a new control number and proposed charter number, indicating a fresh review process. A returned application is not the same as a denial on its merits, generally meaning the filing did not advance through the OCC's review process in its submitted form. The public record currently lists the application as received, with no approval, denial, or other regulatory decision indicated yet. As reported by CoinDesk, the first application had material deficiencies that required correction, but Zerohash contended the misfire was handled "in coordination with the OCC" and wasn't "a substantive decision on the merits of our application."
As reported by crypto.news and CoinDesk, a national trust bank charter would place the proposed institution under direct OCC regulation. Limited purpose trust banks can provide custody and other approved trust services without operating like full service commercial banks that accept insured deposits and issue conventional loans. The OCC amended its national bank chartering rule in April 2026, clarifying that national trust banks may conduct trust company operations and related activities, including certain nonfiduciary services. Zerohash already operates through several regulated entities, including Zerohash Trust Company as a nondepository trust company chartered by the North Carolina Commissioner of Banks, and maintains money transmitter licenses and a New York BitLicense. The company is also a state-chartered trust bank and handles crypto infrastructure needs for several major financial firms, including Franklin Templeton, Stripe, Interactive Brokers and DraftKings.
According to crypto.news and CoinDesk, Zerohash supplies cryptocurrency trading, custody and stablecoin infrastructure to financial and technology companies, with disclosed partners including Morgan Stanley, BlackRock, Stripe, Franklin Templeton and Interactive Brokers. In July, crypto.news reported that Zerohash was providing the infrastructure behind Bitcoin, Ethereum and Solana trading on ETRADE. Morgan Stanley intends to transfer that service to its own proposed national trust bank later in 2026, although no confirmed transition date has been announced. The company is also involved in a California wrongful termination court case in which its former chief compliance officer claims he was fired after uncovering several compliance problems. CoinDesk notes that this is the only one returned among crypto-native firms seeking OCC trust bank status, while many other crypto firms have recently received preliminary trust charters, with two being denied.
As reported by crypto.news and CoinDesk, interested parties can submit comments through September 17 under OCC control number 2026-Charter-347313. The agency says comments become part of the public record and may include support, objections or requests for specific licensing conditions. After the comment period closes, the regulator can request more information, impose conditions, approve the application or reject it. The OCC has not published a deadline for reaching a decision. Zerohash is separately defending the California lawsuit filed by former chief compliance officer Edgar Guerra, who reportedly alleges the company dismissed him after raising compliance concerns. Neither Zerohash nor the OCC responded to requests for comment on this new effort.
