Crypto Businesses Embracing Alternative Banking Routes with OCC Trust Charters

The US Office of the Comptroller of the Currency (OCC) is witnessing a surge in applications for trust charters from cryptocurrency and fintech companies. This trend, fueled by a crypto-friendly regulatory environment, sees firms seeking to bypass traditional banks and utilize the OCC’s unique financial infrastructure. Notably, Circle and BitGo are exploring integration with the existing financial system through these charters. The move could significantly impact the financial landscape as it allows for direct engagement with the regulated banking network.