OCC Opens Door for Crypto Firms to Pursue US Bank Charters
The Office of the Comptroller of the Currency (OCC) has announced that digital asset companies can pursue U.S. bank charters, following a push by Comptroller Jonathan V. Gould to revive new bank formation.
Gould stated that the regulator received 40 de novo applications over the past 18 months and decided many complete applications within 120 days. He emphasized that 'America and the OCC are once again open for business.'
The current digital asset licensing list contains 13 pending applications from entities planning to offer crypto or other digital asset products, including Payward National Trust Company, World Liberty Trust Company, Revolut Bank US, PAYO Digital Bank, EDX Trust, Agora National Trust Bank and Dakota National Trust Bank.
Several large crypto companies have already moved further through the process. The OCC conditionally approved applications involving Circle, Ripple, BitGo, Fidelity Digital Assets, Paxos in December 2025. Coinbase received preliminary conditional approval in April.
The path is not automatic. OCC records show Wise National Trust's application was denied on July 21. This decision offers a counterpoint to claims that the regulator is simply opening federal charters to every new entrant.