Ramp files with OCC for national trust bank charter to custody digital assets
- —Application filed October 16 for a new entity, Ramp National Trust Bank
- —Charter covers custody and fiduciary management, not deposits or lending
- —Ramp is valued at $60 billion with roughly $2 billion in annualized revenue
- —OCC has granted trust charters to Stripe-owned Bridge and Circle
Why it matters: OCC trust charters are becoming the main route for crypto firms into the US banking system, even as the ICBA challenges them in court.
Source: Inside Bitcoins