Crypto Firms Flood US Regulator with Bank Charter Filings

The US regulator has seen an eightfold surge in new bank charter filings from crypto firms over the past four years, with 23 of the last 40 applications incorporating digital-asset activities. The Office of the Comptroller of the Currency (OCC) revealed that most applicants are pursuing a national trust bank charter, which focuses on fiduciary, asset administration, and custodial responsibilities.

National trust banks generally do not handle consumer lending or take retail deposits and operate without FDIC insurance. This structure subjects them to strict fiduciary oversight while keeping them clear of traditional fractional-reserve banking.

The OCC's guidance lays out these operational boundaries clearly, aligning with the core requirements of major crypto operators, which include institutional asset custody, stablecoin reserve management, and high-volume settlement rails.