{"id":49583,"date":"2026-08-12T17:05:06","date_gmt":"2026-08-12T17:05:06","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=49583"},"modified":"2026-08-12T17:05:06","modified_gmt":"2026-08-12T17:05:06","slug":"occ-says-its-open-for-business-as-crypto-firms-line-up-for-bank-charters","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=49583","title":{"rendered":"OCC Says It\u2019s \u2018Open for Business\u2019 as Crypto Firms Line Up for Bank Charters"},"content":{"rendered":"<p><a rel=\"nofollow\" href=\"https:\/\/bitcoinmagazine.com\/\">Bitcoin Magazine<\/a><br \/>\n<img decoding=\"async\" src=\"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2026\/08\/OCC-Says-Its-Open-for-Business-as-Crypto-Firms-Line-Up-for-Bank-Charters.jpg\" \/><br \/>\n<a rel=\"nofollow\" href=\"https:\/\/bitcoinmagazine.com\/news\/occ-ready-to-approve-banking-charters\">OCC Says It\u2019s \u2018Open for Business\u2019 as Crypto Firms Line Up for Bank Charters<\/a><\/p>\n<div><\/div>\n<p class=\"wp-block-paragraph\">The Office of the Comptroller of the Currency says it will keep pushing to revive de novo bank chartering, a campaign that has already opened a federal on-ramp for some of the largest companies in crypto.<\/p>\n<p class=\"wp-block-paragraph\">In a statement Tuesday, the regulator <a href=\"https:\/\/occ.gov\/news-issuances\/news-releases\/2026\/nr-occ-2026-67.html\" target=\"_blank\" rel=\"noopener\">said<\/a> reinvigorating new bank formation remains a priority and commended the Federal Deposit Insurance Corporation for its own recent efforts on the issue.<\/p>\n<p class=\"wp-block-paragraph\">\u201cDe novo chartering is a sign of a healthy banking system,\u201d said Comptroller of the Currency Jonathan V. Gould, adding that the FDIC\u2019s new process for reviewing deposit insurance applications aligns with the OCC\u2019s work to reverse the decline in new charters.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">JUST IN: <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/17.0.2\/72x72\/1f1fa-1f1f8.png\" alt=\"\ud83c\uddfa\ud83c\uddf8\" class=\"wp-smiley\" \/> US regulator OCC approves Bitcoin and crypto firms to become national banks.<\/p>\n<p>&#8220;America and the OCC are once again open for business.&#8221; <a href=\"https:\/\/t.co\/p6ig74pLYD\">pic.twitter.com\/p6ig74pLYD<\/a><\/p>\n<p>\u2014 Bitcoin Magazine (@BitcoinMagazine) <a href=\"https:\/\/x.com\/BitcoinMagazine\/status\/2087512671209869538?ref_src=twsrc%5Etfw\">August 12, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p class=\"wp-block-paragraph\">Over the past 15 years, de novo chartering fell significantly, the OCC said. From 2011 through 2014, the OCC received an average of fewer than four charter applications per year, and in some years it received none at all.<\/p>\n<p class=\"wp-block-paragraph\">\u201cFor more than a decade, regulators signaled that those seeking a federal bank charter and federal deposit insurance need not apply,\u201d Gould said. \u201cEntities that engage in legally permissible activities, including those involving digital assets and other novel technologies, should have a path to becoming a national bank. America and the OCC are once again open for business.\u201d<\/p>\n<p class=\"wp-block-paragraph\">The numbers have turned. The OCC has received 40 de novo applications in the last 18 months, including applications for national trust banks \u2014 a charter type it has granted for decades. In many cases it has ruled within 120 days of receiving a complete application. For the first time in five years, a full-service national bank has received final approval and opened its doors: Erebor Bank, N.A., backed by Palmer Luckey, Joe Lonsdale and Peter Thiel\u2019s Founders Fund.<\/p>\n<p class=\"wp-block-paragraph\">A number of top crypto companies have received conditional approval, including Ripple, Circle, Crypto.com and Paxos. Donald Trump-backed decentralised finance platform World Liberty Financial has also applied, hoping to get institutions on board with using its native stablecoin, USD1.<\/p>\n<p class=\"wp-block-paragraph\">The appeal is structural: the charter lets crypto companies hold client assets and handle trade settlement inside a federally regulated framework. For an exchange like Coinbase, whose application remains under review, it would mean serving as a crypto custodian on a federal basis, managing assets for larger entities.<\/p>\n<p class=\"wp-block-paragraph\">Not everyone is happy about it, though. The Independent Community Bankers of America in December <a href=\"https:\/\/www.icba.org\/docs\/default-source\/icba\/advocacy-documents\/letters-to-congress\/icba-objection-to-coinbase-national-trust-bank-charter-application.pdf?sfvrsn=eecbfc17_1\" target=\"_blank\" rel=\"noopener\">urged<\/a> the OCC to reject Coinbase\u2019s application for a national trust bank charter, arguing the exchange has \u201cdemonstrably flawed risk and control functions\u201d and operates under governance that \u201cprevents independent oversight.\u201d\u00a0<\/p>\n<p class=\"wp-block-paragraph\">And in February, the American Bankers Association \u2014 the country\u2019s largest banking lobby \u2014 urged the OCC to slow its review of crypto companies\u2019 charter applications.<\/p>\n<p class=\"wp-block-paragraph\">Underneath the procedural objections is a turf war. One of the biggest gripes from traditional banks comes down to stablecoins: companies like Coinbase want to pay users rewards for holding the tokens, which banks say is unfair and could erode their deposit base.<\/p>\n<p class=\"wp-block-paragraph\">The OCC, for its part, says it will continue to encourage the formation of new banks and strengthen the resilience of the federal banking system.<\/p>\n<p>This post <a rel=\"nofollow\" href=\"https:\/\/bitcoinmagazine.com\/news\/occ-ready-to-approve-banking-charters\">OCC Says It\u2019s \u2018Open for Business\u2019 as Crypto Firms Line Up for Bank Charters<\/a> first appeared on <a rel=\"nofollow\" href=\"https:\/\/bitcoinmagazine.com\/\">Bitcoin Magazine<\/a> and is written by <a rel=\"nofollow\" href=\"https:\/\/bitcoinmagazine.com\/authors\/mathewdisalvo\">Mathew Di Salvo<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Bitcoin Magazine OCC Says It\u2019s \u2018Open for Business\u2019 as Crypto Firms Line Up for Bank Charters The Office of the Comptroller of the Currency says it will keep pushing to revive de novo bank chartering, a campaign that has already opened a federal on-ramp for some of the largest companies in crypto. In a statement [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":49584,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-49583","post","type-post","status-publish","format-standard","has-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>OCC Says It\u2019s \u2018Open for Business\u2019 as Crypto Firms Line Up for Bank Charters - Cryptomag<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptomag.finance\/?p=49583\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OCC Says It\u2019s \u2018Open for Business\u2019 as Crypto Firms Line Up for Bank Charters - Cryptomag\" \/>\n<meta property=\"og:description\" content=\"Bitcoin Magazine OCC Says It\u2019s \u2018Open for Business\u2019 as Crypto Firms Line Up for Bank Charters The Office of the Comptroller of the Currency says it will keep pushing to revive de novo bank chartering, a campaign that has already opened a federal on-ramp for some of the largest companies in crypto. 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