#What is Laser Digital's Move Towards a National Trust Bank Charter?
Laser Digital, the cryptocurrency division of Nomura, is taking significant steps toward becoming a federal player in the crypto field. The firm has submitted an application for a national trust bank charter with the U.S. Office of the Comptroller of the Currency. This strategic move aims to establish federally regulated crypto custody and spot trading services, which would enable Laser Digital to operate without the need for multiple state-level licenses, thereby facilitating a more streamlined operation under a unified federal regulatory framework.
This filing represents a growing trend among crypto and fintech companies seeking access to traditional banking services. In fact, during 2025, a total of fourteen applications for OCC charter approvals were submitted, nearly equaling the total number filed in the previous four years. This upward trajectory indicates a shifting landscape in regulatory attitudes, particularly during the Trump administration, under the leadership of Comptroller Jonathan Gould, who emphasized a more favorable perspective on financial innovation.
#Who Else is Seeking OCC Approval?
Several significant players have also pursued OCC charters, enhancing the competition within the sector. Notable applicants include World Liberty Financial, which has ties to former President Trump, as well as the fintech company Revolut, which recently abandoned its plans to acquire a U.S. bank. Additionally, traditional automotive giants like Ford and General Motors have recently secured FDIC approval to initiate their own banking operations.
In a notable development, Palmer Luckey, the co-founder of Anduril, has received OCC approval for a bank that will focus on artificial intelligence and digital assets. This diverse range of applicants highlights a common ambition to integrate digital finance into the broader banking ecosystem.
#What to Expect from the Charter Process?
The process of obtaining a charter involves a four-month preliminary review, followed by a final assessment that evaluates the institution's capital and operational readiness. This final approval can occasionally extend beyond a year, depending on various factors.
Under the Biden administration, review standards have tightened, prompting many previous applicants to withdraw their requests. Nevertheless, the recent shift in regulatory attitudes indicates a more welcoming environment under Trump-aligned appointees, which may encourage further applications from innovative companies seeking new opportunities.
#What Challenges Could Affect Crypto Custodians?
Laser Digital's decision to apply for federal charter approval comes at a time when legislation such as the Clarity Act is stagnating in the Senate. Moreover, established banks are expressing concerns regarding upcoming yield provisions for stablecoins, fearing that attractive yields from tokenized assets could lead to significant deposit outflows from traditional banks. These developments could complicate the landscape for new entrants in the crypto custody and trading space, making it essential for investors to remain aware of both regulatory changes and market dynamics as they unfold.