On Friday, the Office of the Comptroller of the Currency (OCC) approved national trust charter applications from several key firms in the industry including Circle’s First National Digital Currency Bank, Ripple National Trust Bank, BitGo Bank & Trust, Fidelity Digital Assets, and Paxos Trust Company.

OCC’s Approval Of Digital Asset Trust Banks

Once finalized and full approval is reached, these national trust bank charters would empower the crypto companies to manage and hold assets on behalf of their customers, enabling faster payment settlements.

Currently, Anchorage Digital is the only digital asset company that holds a national trust bank charter from the OCC, which oversees a total of 60 such institutions.

Comptroller Jonathan Gould emphasized that each application underwent

See Full Page