Ramp Files With OCC for National Trust Bank to Offer Crypto Custody
- —Application filed October 16, announced publicly on October 19 via X
- —Proposed bank would offer crypto custody and fiduciary investment management
- —No customer deposits or commercial lending planned
- —Rain and Modern Treasury filed similar OCC applications on October 5
Why it matters: A growing wave of fintech trust bank charter applications deepens the clash with traditional banks, which are suing the OCC over its authority to approve them.
Source: The Crypto Times