Blockchain infrastructure company Zerohash has officially submitted an application for a National Trust Bank license in the United States, aiming to further solidify its core position in the payment channels between traditional finance (TradFi) and crypto assets. As the legislative and regulatory framework for stablecoins and digital assets continues to improve at the federal level in the U.S., obtaining a trust bank license from the Office of the Comptroller of the Currency (OCC) will provide Zerohash with a more stable compliance foundation, enabling it to legally expand various financial services, including those covered by the GENIUS Act.
Zerohash has already established partnerships with several industry giants, including Morgan Stanley, Interactive Brokers, Stripe, and Franklin Templeton, demonstrating its strong appeal in the institutional crypto payment solutions space.
Since former U.S. President Donald Trump signed the GENIUS Act in July 2023, obtaining a federal banking license has become a key pathway for crypto companies to expand their compliant operations. Currently, several companies, including Coinbase and WLFI, are also awaiting approval.
In December 2023, Jonathan Gould, the head of the OCC, publicly stated that new institutions entering the federal banking system help enhance the vitality and competitiveness of the financial system, providing consumers with a richer array of products and credit options, and promoting healthy financial innovation within a compliant framework.
