Overview
- The Chicago-based infrastructure firm submitted its application on March 4 to create ZeroHash National Trust Bank under federal oversight.
- If approved, the charter would authorize stablecoin issuance and reserve management, digital-asset and fiat custody, custodial staking, transfer agent work, trade execution, and settlement, clearing, and escrow services.
- The proposed trust would be barred from taking deposits or making commercial loans, reflecting the limits of a national trust bank charter.
- ZeroHash named Chief Legal and Compliance Officer Stephen Gardner as the proposed CEO, highlighting a leadership shift tied to the new entity.
- The move joins a growing wave of crypto firms pursuing federal trust charters after recent approvals for Circle, Ripple, BitGo, Paxos, Fidelity Digital Assets, Bridge and Crypto.com, drawing scrutiny from banking trade groups and consumer advocates.