Ramp applies for US national trust bank charter

Fintech company Ramp has submitted an application to the Office of the Comptroller of the Currency (OCC) to establish Ramp National Trust Bank. The proposed entity would operate under a federal regulatory framework to provide fiduciary investment management and digital asset custody services.

If approved, the new institution would not accept customer deposits or issue commercial loans. The move allows the New York-based company, which is valued at $60 billion, to offer regulated crypto safekeeping and asset management alongside its existing banking partners.

Ramp joins several other fintech and digital asset firms, including Circle, Ripple, Paxos, and BitGo, in seeking OCC trust charters. There is currently no confirmed timeline for the regulatory review or the official launch of these planned services.