Payward Applies for National Trust Company Charter to Regulate Digital Asset Custody
Here's what it means for you.
This application could significantly enhance institutional trust in the cryptocurrency sector.
What happened
Payward filed an application with the OCC for a national trust company charter to establish federally regulated custody services for digital assets.
The Context
- The charter would allow Payward to operate a federally regulated custody business.
- This application follows Kraken's existing Wyoming bank charter and Fed master account.
- The move is seen as a strategy to boost regulatory credibility and investor confidence.
Takeaway
If approved, this charter could reshape the landscape of digital asset custody and enhance institutional participation in the cryptocurrency market.
This article was generated by AI from 5 verified sources and reviewed by A47 editorial systems.
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