Laser Digital, the digital assets subsidiary backed by Nomura, has applied for a US national trust bank charter as crypto and fintech firms increasingly move operations onshore under federal supervision. The application was submitted to the Office of the Comptroller of the Currency, reflecting a broader push by digital asset firms to align with US banking standards amid a more constructive regulatory climate. A federal trust charter would allow Laser Digital to operate nationwide without the need for individual state custody licenses, while not permitting the firm to accept retail deposits. The move signals a strategic shift toward regulated infrastructure that supports custody, settlement, and trading activities within a single federally supervised entity. Market participants see this trend as part of a wider effort by crypto firms to gain regulatory certainty and institutional credibility as digital assets become more integrated into mainstream financial markets.
Laser Digital’s application places it among a growing list of firms pursuing the national trust bank model, which has gained popularity among stablecoin issuers and digital asset custodians. This structure enables firms to consolidate asset safeguarding, issuance, and settlement under one regulated framework while meeting capital, governance, and compliance requirements set by federal authorities. According to people familiar with the matter, Laser Digital is also expected to offer spot cryptocurrency trading once approvals are secured. The OCC typically grants conditional approval first, requiring applicants to satisfy a range of operational and risk management conditions before commencing full operations. This phased approach allows regulators to maintain oversight while firms build compliant infrastructure. The increasing use of trust charters highlights how crypto companies are adapting their business models to fit within existing banking frameworks rather than operating solely under state level or offshore regimes.
The application comes as several high profile crypto and financial firms pursue similar paths to establish regulated US footholds. Companies including Circle, Ripple, BitGo, Fidelity Digital Assets, and Paxos have already received conditional approval for national trust charters, positioning them to operate as federally regulated entities once final requirements are met. The trend has accelerated as policymakers signal greater openness to regulated digital asset activity, particularly around stablecoins and custody services. Trump backed World Liberty Financial has also disclosed plans to seek a trust charter to support issuance and redemption of its USD1 stablecoin. Together, these moves point to a reshaping of the US crypto landscape, where federally supervised trust banks are emerging as a preferred structure for firms seeking scale, compliance, and long term participation in the evolving digital financial system.
