More than 12 cryptocurrency companies have applied for the national trust license from the OCC in the United States

According to market news, since December 2025, more than 12 cryptocurrency and fintech companies have applied for or obtained national trust bank licenses from the Office of the Comptroller of the Currency (OCC), including Coinbase, Ripple, Circle, BitGo, as well as Morgan Stanley and Fidelity Digital Assets.

Kraken's parent company Payward has also submitted an application to establish Payward National Trust Company, which will provide bank-grade cryptocurrency custody and trust services for institutional and individual clients. The OCC's auditor stated that new entrants into the federal banking sector are beneficial for consumers, the banking industry, and the economy, and the OCC will continue to provide pathways for traditional and innovative financial services. The national trust bank license allows companies to manage assets under a single federal regulation, reducing reliance on external banking partners. However, most companies are still in the conditional approval stage, with only Anchorage Digital Bank being the sole fully operational national trust bank.

Another major unresolved issue is access to the Federal Reserve's payment infrastructure. Federal Reserve governors have indicated they are exploring ways to simplify account structures, but no formal framework has been established yet.