The OCC has received around 14 charter applications so far this year, including a number from digital asset companies.
Jonathan Gould, head of the U.S. Office of the Comptroller of the Currency (OCC), is pushing back against complaints from traditional banks about allowing crypto companies to pursue national trust bank charters.
Speaking at an industry event in Washington, Gould said digital asset firms applying for federal bank charters should be evaluated the same way as any other financial institution. Treating crypto activities differently, he argued, would “undermine the dynamic and evolving nature of the federal banking system.”
He also pointed out that the OCC has a long history of chartering national trust banks and overseeing their activities. The agency has received roughly 14 charter applications so far this year, including several from crypto-related firms.
“Even though some of the activities proposed by digital or fintech applicants may seem new for a national trust bank, custody and safekeeping have been happening electronically for decades,” Gould said. “There is simply no justification for treating digital assets differently.”
OCC Outlines How It Plans to Supervise Crypto Firms
Gould also dismissed worries from traditional banks that the OCC doesn’t have the supervisory capacity needed to oversee new crypto-focused applicants.
Speaking at the 2025 Blockchain Association Policy Summit, he noted that many existing banks are already approaching the OCC with their own ideas for innovative products and services.
“The OCC has also had years of experience supervising a crypto-native national trust bank,” he added. “This gives me full confidence in our ability to supervise new entrants — and new activities from existing banks — fairly and effectively.”
Gould emphasized that the banking system must continue evolving, moving from old technologies like the telegraph to modern innovations such as blockchain.
Crypto Firms Move Forward With National Trust Charter Applications
In October, Coinbase submitted an application to the OCC for a National Trust Company Charter, aiming to expand its financial services under clear federal regulation. The company stressed that it doesn’t intend to become a traditional bank, but the charter would allow it to process payments without relying on external banking partners.
Ripple and Circle have filed similar applications. Ripple hopes to bring its U.S. dollar–backed stablecoin, RLUSD, under federal oversight through a national banking license. Circle, meanwhile, is seeking approval to launch a federally regulated entity called First National Digital Currency Bank, which would allow the company to provide crypto custody services.
