Ramp applies for a national trust bank charter with the OCC

Ramp has applied to the Office of the Comptroller of the Currency for a charter to create a new entity called Ramp National Trust Bank. The New York-based fintech, valued at $60 billion in its latest funding round, now joins a growing line of companies asking federal regulators for a seat at the trust bank table. According to the research findings, the proposed bank would focus on fiduciary investment management and custody services for digital assets. The application was reportedly submitted on or around October 16, 2026. What Ramp is actually asking for Ramp National Trust Bank would operate under a federal framework that does not permit accepting deposits or issuing commercial loans. The charter is built around two functions: fiduciary activities and custody. Fiduciary work means managing assets on behalf of someone else, with a legal duty to act in their interest. Custody means holding those assets safely. In Ramp’s case, the custody piece would extend to digital assets. That puts the company in the business of safeguarding crypto holdings under a federal regulator’s supervision, assuming the OCC signs off. The numbers behind the move Ramp is valued at $60 billion and carries a...