Laser Digital Applies for US Trust Bank Charter as Crypto Firms Go Federal
Why Is Laser Digital viewking a Federal Trust Charter?
Laser Digital, the digital assets arm of Japan’s Nomura, has applied for a US national trust bank charter as crypto firms increasingly look to operate under direct federal supervision. The application was filed with the Office of the Comptroller of the Currency, according to reporting by the Financial Times, and was later confirmed by a source with direct knowledge of the matter.
A national trust charter would allow Laser Digital to offer custody and related services across the US without securing licenses on a state-by-state basis. The structure stops short of permitting retail deposit-taking, but it opens the door to operating nationwide under a single federal regulator.
The firm is also expected to offer spot , according to the report. That combination places Laser Digital among a growing group of crypto and fintech companies viewking to align trading, custody, and settlement activities under one regulated umbrella.
Investor Takeaway
How the Trust Charter Model Is Being Used
The trust bank model has gained traction among stablecoin issuers and custody providers looking to consolidate issuance, settlement, and asset secureguarding within a federally regulated entity. Unlike full-service banks, national trust banks focus on fiduciary and custodial functions rather than deposit-taking and lending.
In practice, this allows crypto firms to bring core infrastructure onshore while avoiding some of the balance-sheet and capital constraints faced by traditional banks. For regulators, the model offers clearer oversight of activities that have often operated through offshore entities or fragmented licensing frameworks.
typically grants conditional approvals for these charters. Applicants must then meet requirements tied to capital, governance, risk controls, and compliance before a final charter is issued and operations begin.
Who Else Is Applying for or Holding Trust Charters?
Laser Digital’s application comes amid a broader wave of interest from crypto-native firms. Trump-backed said earlier this month it is pursuing a national trust charter to support issuance and redemption of its USD1 stablecoin through a federally regulated structure.
Several established players are already further along the process. Circle, Ripple, BitGo, , and Paxos have received conditional approval from the OCC, positioning them to operate as national trust banks once remaining conditions are met.
Taken together, these moves point to a shift in how large crypto firms approach the US market. Rather than relying on patchwork licensing or offshore setups, more firms are viewking direct alignment with US banking supervision.
Investor Takeaway
What This Says About the US Regulatory Climate
The rise in trust charter applications reflects a change in tone in Washington toward . While enforcement actions continue, firms appear more willing to invest in US-based regulatory frameworks, suggesting they view clearer paths to approval than in previous years.
For firms like Laser Digital, a federal charter offers a way to scale US operations while reducing regulatory overlap. For policymakers, it brings major crypto infrastructure closer to the perimeter of the banking system, where oversight is more established.
Whether this approach leads to wider adoption across the sector will depend on how rapidly conditional approvals convert into operating charters and how regulators respond as trust banks expand into trading and settlement activity. For now, the direction of travel is clear: more crypto firms are choosing regulation as an entry point rather than an obstacle.
