Zerohash, a crypto infrastructure and settlement firm, has filed a second application for an OCC national trust bank charter after an earlier attempt did not succeed. An OCC trust charter would grant Zerohash federally regulated custodian status, potentially enabling it to hold digital assets under a nationally recognized framework rather than state money transmission licenses alone.
For Armada's crypto repo desk, a federally chartered crypto custodian alters the competitive landscape for custody services and counterparty onboarding. It also sets precedent for what regulatory standards apply to digital asset custody, which could affect how Armada evaluates Fireblocks and any future custody partners under SOC 2 positioning and custodian due diligence policies.