Ramp Applies for National Trust Bank Charter From OCC
Ramp said the charter would put investment management and digital-asset custody under one federal framework while keeping the bank out of deposits and commercial lending.
- On Friday, October 16, corporate spend management platform Ramp submitted an application to the Office of the Comptroller of the Currency to establish Ramp National Trust Bank for digital asset custody and fiduciary investment management.
- Seeking a 'consistent federal regulatory framework,' Ramp stated the trust bank 'will not take deposits or make commercial loans,' allowing it to manage digital assets without full commercial bank regulation.
- According to consulting firm Klaros Group, more than 30 companies applied to become U.S. banks in 2025, including Interactive Brokers and PayPal , reflecting a competitive industry trend.
- The Independent Community Bankers of America sued the OCC on October 2, asserting that national trust charters create a 'severe competitive disadvantage' for community banks in the system.
- Regulatory approval remains uncertain, as the OCC previously rejected Wise's bid citing compliance concerns and has not disclosed a review timeline for Ramp's application.
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11 Articles
Ramp applies for US trust bank charter to offer digital asset custody
Corporate payments platform Ramp has applied for a US national trust bank charter to offer digital asset custody and fiduciary investment management under federal supervision. According to the company’s Oct. 19 announcement, the application was submitted to the Office of…
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Ramp Files for OCC Trust Charter as Bank Lobby Sues to Block
Ramp, the corporate finance platform valued at $60 billion, filed an application on October 16 with the Office of the Comptroller of the Currency for a national trust bank charter. The proposed entity, Ramp National Trust Bank, would provide custody and fiduciary investment management services for digital assets. Unlike a traditional bank charter, the application excludes deposit-taking and lending activities. The move positions Ramp to hold a…
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