Ramp has reportedly applied to the Office of the Comptroller of the Currency (OCC) for a national trust bank charter to establish a new entity, Ramp National Trust Bank. This proposed bank would focus on providing fiduciary investment management and custody services specifically for digital assets, operating under a federal framework that prohibits accepting deposits or issuing commercial loans.
The application was reportedly submitted on or around October 16, 2026. This move by Ramp, a fintech company valued at $60 billion, aligns with a broader trend of digital asset and fintech firms seeking OCC trust charters. Other companies, including Circle, Ripple, Paxos, and BitGo, have also submitted similar applications.
Ramp’s Digital Asset Custody Ambitions
The proposed Ramp National Trust Bank would operate under a federal charter designed for fiduciary activities and custody. Fiduciary work involves managing assets on behalf of others with a legal duty to act in their best interest, while custody refers to the secure holding of those assets. For Ramp, the custody function would extend to digital assets, placing the company under federal regulatory supervision for safeguarding crypto holdings, contingent on OCC approval.
Ramp’s motivation for seeking this charter appears to be an expansion of its product capabilities, while also intending to continue working with its existing banking partners. The company currently serves more than 85,000 teams and has an annualized revenue run rate of $2 billion. Unlike some other applicants that built their businesses around digital assets, Ramp’s existing revenue engine does not depend on cryptocurrency.
Broader Industry Context and Regulatory Uncertainty
The application fits into a pattern observed between 2025 and 2026, where several fintech and digital-asset firms have pursued OCC trust charters. When a company of Ramp’s scale seeks such a charter for digital asset custody, it suggests that the demand for regulated crypto safekeeping solutions is growing within mainstream business finance.
However, there is no clear timeline for the OCC to review or approve Ramp’s application. The process is in its early stages, and the absence of a defined review period means that Ramp could face a significant waiting period. Decisions made on earlier applications from firms like Circle, Ripple, Paxos, and BitGo may offer insights into how Ramp’s request will be handled.
The OCC’s review process and ultimate decision on Ramp’s application remain uncertain. The application is considered a developing story, with the regulatory outcome and its implications for Ramp and the broader digital asset industry yet to be determined.
