OCC Chief Advocates Equal Treatment for Crypto Firms Like Ripple in Bank Charter Surge

• OCC Comptroller Jonathan Gould pushes for crypto firms to receive the same regulatory treatment as traditional banks when seeking national trust charters.

• The OCC has seen 14 new bank applications in 2025, including several from fintech and digital asset innovators.

• Major players like Coinbase, Ripple, and Circle are pursuing federal charters to expand under clear oversight, with national trust banks managing nearly $2 trillion in assets.

Discover how OCC chief Jonathan Gould supports crypto firms in bank charter applications, highlighting 14 new submissions and the need for banking evolution. Stay informed on regulatory shifts in digital assets.

What is the OCC’s stance on crypto companies applying for national trust bank charters?

Crypto companies applying for national trust bank charters should receive the same treatment as traditional financial institutions, according to OCC Comptroller Jonathan Gould. He argues there is no justification for differentiating digital assets, as banks have managed electronic custody services for decades. This position aims to foster innovation while ensuring robust supervision.

How is the banking system evolving to include digital asset firms?

The Office of the Comptroller of the Currency (OCC) oversees national banks and federal trust institutions, and under Gould’s leadership, it is adapting to technological advancements. Currently, only Anchorage Digital and Erebor hold such charters among crypto-native firms, but Gould stresses the system’s capacity to transition from outdated methods to blockchain integration. He notes that restricting new technologies would hinder the federal banking system’s dynamism. Financial data shows national trust banks already custody nearly $2 trillion in assets, demonstrating established expertise in secure electronic management. Gould’s comments at the Blockchain Association Policy Summit underscore the OCC’s growing experience, including years of supervising Anchorage Digital, to handle emerging risks effectively.

OCC chief Gould says the banking system must evolve with technology, noting 14 new bank applications this year, including crypto and fintech firms.

Key Highlights

• OCC chief Jonathan Gould emphasizes that crypto firms should receive the same treatment as traditional banks when applying for national trust charters.
• The regulator has received 14 new bank applications this year, including several from digital asset and fintech companies.
• Major crypto players like Coinbase, Ripple, and Circle are seeking federal oversight to expand services under clear regulatory frameworks.

The top U.S. banking regulator has pushed back against criticism that crypto companies should face tougher scrutiny when applying for federal bank charters.

Frequently Asked Questions

Why are major crypto firms like Coinbase and Ripple seeking national trust bank charters?

Major crypto firms such as Coinbase, Ripple, and Circle are applying for national trust bank charters to operate under federal oversight, enabling expanded services like custody and payments with enhanced regulatory clarity. These charters provide banking-style protections, reducing reliance on third-party partners and streamlining operations for stablecoins and digital assets, as noted in recent OCC disclosures.

What risks does the OCC consider when approving crypto-related bank applications?

The OCC evaluates risks such as operational vulnerabilities and compliance in crypto-related applications, drawing from its supervisory experience with firms like Anchorage Digital. Jonathan Gould has expressed confidence in the agency’s ability to oversee these entrants fairly, ensuring they meet fiduciary standards while integrating blockchain technologies into the broader financial system.

Key Takeaways

• Equal Treatment for Innovation: Crypto firms deserve the same charter application process as traditional banks, as electronic custody has long been standard in banking.
• Surge in Applications: 14 new bank formations sought in 2025 signal a revival in U.S. banking competition, with fintech and digital assets driving growth.
• Regulatory Confidence: The OCC’s experience with blockchain projects positions it to supervise new entrants effectively, fostering a dynamic economy.

Jonathan Gould, Comptroller of the Currency, told industry leaders at the Blockchain Association Policy Summit that digital asset firms seeking national trust bank charters deserve the same treatment as traditional financial institutions.

“There is simply no justification for considering digital assets differently,” Gould said, arguing that custody and safekeeping services — central to many crypto business models — have been managed electronically by banks “for decades.”

Banking system must evolve with technology

The Office of the Comptroller of the Currency (OCC), which oversees national banks and federal trust institutions, has historically expressed concerns about crypto-related risks. Today, only two crypto-native firms — Anchorage Digital and Erebor — hold national trust bank charters.

However, Gould emphasized that the broader banking sector is already rapidly modernizing.

He said the financial system has “the capacity to evolve from the telegraph to the blockchain,” warning that restricting new technologies would “undermine the dynamic and evolving nature of the federal banking system.”

A surge in new bank applications

Gould revealed that the agency has received 14 applications to form new banks so far this year — nearly matching the number submitted over the previous four years combined. Several of those applicants are digital asset firms or fintech innovators.

“Chartering helps ensure that the banking system continues to keep pace with the evolution of finance and supports our modern economy,” he said. “That is why entities that engage in activities involving digital assets and other novel technologies should have a pathway to become federally supervised banks.”

Traditional banks push back

Financial industry groups, including the American Bankers Association, have urged caution, warning that crypto companies may not meet established standards for fiduciary trust operations. Some have questioned whether the OCC has the resources and expertise to supervise such firms properly.

Gould rejected that view, saying he hears “on a near daily basis” from existing banks about their own blockchain-linked projects. He added that the regulator already has years of supervisory experience with Anchorage, the first crypto-native national trust bank.

“All of this reinforces my confidence in the OCC’s ability to effectively supervise new entrants as well as new activities of existing banks in a fair and even-handed manner,” he said.

Big crypto players seek federal oversight

Several major digital asset companies — including Coinbase, Circle, Ripple, and Paxos — have recently submitted applications for national trust charters.

Such licenses would allow them to expand services under clear regulatory oversight while offering traditional banking-style protections. Coinbase has said it does not plan to become a full-service retail bank, but a federal charter could streamline payments and reduce reliance on partner banks.

Ripple has signaled plans to bring its stablecoin, RLUSD, under federal banking standards if its charter is approved. Circle’s application would enable custody services and bring its dollar-linked operations further under U.S. regulation.

Reviving U.S. banking competition

Gould also stressed the importance of supporting new bank formation in general, particularly after a long stretch following the 2008 financial crisis which few new banks were approved.

He highlighted the OCC’s history of chartering national trust banks, which today are responsible for nearly $2 trillion in assets under custody.

“A robust pipeline of de novo banks,” he argued, is necessary to keep the U.S. banking system dynamic and competitive.

Also Read: Argentina Eyes Rules to Bring Crypto Into Traditional Banks

Follow The COINOTAG on Google News to Stay Updated!    

Conclusion

As the OCC under Jonathan Gould champions equal opportunities for crypto companies applying for national trust bank charters, the U.S. banking landscape stands poised for transformation through digital asset integration and fintech innovation. This evolution promises to bolster competition and safeguard the modern economy, with federal oversight ensuring stability. Industry stakeholders should monitor these developments closely, as they could redefine the role of blockchain in traditional finance moving forward.