The Office of the Comptroller of the Currency (OCC) announced conditional approval of five national trust bank charter applications, subject to the applicants meeting the OCC’s conditions. The OCC said the institutions would join roughly 60 other national trust banks it currently supervises once those conditions are satisfied. The approvals cover two de novo national trust bank charters for First National Digital Currency Bank and Ripple National Trust Bank, and three conversions from state trust companies to national trust banks for BitGo Bank & Trust, National Association, Fidelity Digital Assets, National Association, and Paxos Trust Company, National Association. The OCC said it applied its standard chartering review and evaluated each application on its individual merits against applicable statutory and regulatory factors.
Office of the Comptroller of the Currency 2025-12-12
Office of the Comptroller of the Currency conditionally approves five national trust bank charter applications including Ripple and Fidelity Digital Assets
The Office of the Comptroller of the Currency (OCC) conditionally approved five national trust bank charter applications, including de novo charters for First National Digital Currency Bank and Ripple National Trust Bank, and conversions for BitGo Bank & Trust, Fidelity Digital Assets, and Paxos Trust Company. These approvals are contingent on meeting OCC conditions and will add to the approximately 60 national trust banks currently supervised by the OCC. Each application was assessed individually against statutory and regulatory criteria.