OCC Chief Emphasizes Digital Asset Firms Should Access National Trust Bank Charters Under Equal Rules

Highlights:

• Gould has voiced support for equal rules for digital asset firms seeking licenses in the banking sector.
• The OCC has seen rising demand for new charters as firms like Paxos and Erebor seek licenses.
• National trust bank charters remain central as the OCC backs safe digital asset activity across supervised institutions.

Jonathan Gould, OCC Chief, has stated that digital asset firms deserve equal treatment when they seek federal trust charters. He addressed the issue at a policy event in Washington and noted rising concern among banks about new applicants. Gould said banks continue to argue that digital asset firms introduce new risks. However, he stressed that custody and safekeeping services already run through electronic systems. He added that these activities align with decades of trust bank operations under OCC rules.

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🚨🇺🇸 NEW: OCC Comptroller Jonathan Gould says crypto companies should be treated the same as banks when applying for federal charters. pic.twitter.com/jIpgZwvwHB

— Amila Bro (@Amila_Broo) December 9, 2025

Gould indicated that the OCC cannot impose different standards on digital asset applicants. He claimed that rigid boundaries would undermine advancement within the federal banking system. The OCC chief stressed that every filing is subject to the same review. He clarified the fact that the current financial activity is already supported by electronic tools. Gould also stated that digital asset tools are extensions of well-known custody functions. Therefore, he encouraged banks not to resist innovation in the regulated channel.

He also pushed back on claims that digital asset firms do not fit within supervised banking. Gould said the national system must evolve with new financial technology. He compared the shift to a move from telegraph tools to modern networks. He argued that the OCC must allow safe development within its authority. Gould added that fair access strengthens the wider economy.

OCC Dismisses Oversight Concerns as Application Volume Increases

Gould addressed ongoing concerns about the OCC’s supervisory capacity. He said banks warn about higher oversight demands from digital and fintech applicants. Gould dismissed those claims and said the agency can manage its workload. He cited the OCC’s experience with a crypto-native trust bank. He said this experience improved the agency’s ability to supervise new activities.

The OCC chief also highlighted new developments that show the system’s progress. Erebor Bank became the first new bank approval granted by the OCC on a conditional basis. Erebor Bank will offer both traditional and digital asset services. The approval reflects growing demand from technology firms and high-net-worth clients who use virtual currencies.

The OCC granted preliminary conditional approval to Erebor Bank after thorough review of its application. In granting this charter, the OCC applied the same rigorous review and standards applied to all charter applications. https://t.co/9G7WkRRohN pic.twitter.com/tQhLqNbtM9

— OCC (@USOCC) October 15, 2025

Gould added that the OCC recorded fourteen applications this year. He said that the number nearly matches the total from the last four years. He explained that the filings include digital asset firms, payments companies, and fintech platforms. Gould said the trend reflects a strong interest in federal supervision. Gould noted that companies such as Coinbase, Circle, and Ripple have submitted applications for a bank charter. Meanwhile, Paxos applied to convert its New York trust charter into a national charter. The move shows rising demand for direct federal supervision.

National Trust Bank Charters Remain Central to OCC’s Digital Asset Strategy

Gould remarked that National Trust Bank Charters are one of the most important directions of digital asset companies. He stressed that applicants should be subject to equal rules under federal jurisdiction. He further stated that the OCC will keep to back safe activity within the sector. The OCC chief noted that charters help companies address the growing demand for digital custody and payment instruments.

He said the banking system must move from older tools toward blockchain systems. He explained that banks cannot rely on outdated technology. Gould added that supervised innovation strengthens financial stability. He said equal treatment ensures fair entry for all firms.

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