Ramp Applies for OCC Trust Bank Charter to Offer Digital Asset Custody

WHY IT MATTERS

Think of a trust bank charter like a special government license that allows a company to hold and safeguard valuable assets on behalf of customers — similar to how a bank holds your money. In the crypto world, "custody" means securely storing digital assets like Bitcoin or Ethereum for clients. Right now, many crypto custody providers operate under a patchwork of state-level rules. By applying for a federal charter from the OCC (the agency that oversees national banks), Ramp is seeking a single, nationally recognized approval to offer these services. If granted, it could make it easier for the company to serve customers across the country under one set of rules, and it reflects the broader trend of crypto companies seeking to operate within the traditional financial regulatory system.