Ramp applies for a national trust bank charter with the OCC

Ramp has applied to the Office of the Comptroller of the Currency for a charter to create a new entity called Ramp National Trust Bank.

The New York-based fintech, valued at $60 billion in its latest funding round, now joins a growing line of companies asking federal regulators for a seat at the trust bank table.

According to the research findings, the proposed bank would focus on fiduciary investment management and custody services for digital assets. The application was reportedly submitted on or around October 16, 2026.

What Ramp is actually asking for

Ramp National Trust Bank would operate under a federal framework that does not permit accepting deposits or issuing commercial loans.

The charter is built around two functions: fiduciary activities and custody. Fiduciary work means managing assets on behalf of someone else, with a legal duty to act in their interest. Custody means holding those assets safely.

In Ramp’s case, the custody piece would extend to digital assets. That puts the company in the business of safeguarding crypto holdings under a federal regulator’s supervision, assuming the OCC signs off.

The numbers behind the move

Ramp is valued at $60 billion and carries an annualized revenue run rate of $2 billion. It also serves more than 85,000 teams.

Ramp’s motivation appears to align with a goal of expanding its product capabilities while continuing to work alongside its banking partners.

There is no clear timeline for the OCC to review or approve the application.

Ramp joins a crowded queue

The filing fits a broader pattern of fintech and digital-asset firms pursuing OCC trust charters across the 2025 to 2026 timeframe.

Circle, Ripple, Paxos, and BitGo have all applied for OCC trust charters focused on digital assets.

What this means for fintech and digital assets

When a fintech of Ramp’s size seeks a charter that explicitly covers digital asset custody, it signals that demand for regulated crypto safekeeping has moved into mainstream business finance.

Circle, Ripple, Paxos, and BitGo built their businesses around digital assets from the start. Ramp would be arriving with an existing base of more than 85,000 teams and a revenue engine that does not depend on crypto at all.

The application is at an early stage, and the absence of any review timeline means Ramp could be waiting a long while.

What to watch next: whether the OCC moves on any of the pending digital-asset trust charter applications, and how quickly. Decisions on the earlier filers from Circle, Ripple, Paxos, and BitGo may offer the clearest preview of how Ramp’s request is likely to be treated.