Corporate payments company Ramp has applied for a US national trust bank charter that would allow it to offer digital asset custody and fiduciary investment management under federal oversight.

Ramp submitted the application to the Office of the Comptroller of the Currency (OCC) on Oct. 16 and announced the filing on Oct. 19. The proposed institution would be called Ramp National Trust Bank.

The proposed bank would not take deposits or make commercial loans, according to Ramp. That structure reflects the nature of national trust charters, which the OCC grants to institutions focused on fiduciary activities such as custody and investment management rather than retail banking. The company said the charter would place its investment and custody services under “a consistent federal regulatory framework.”

Ramp also announced the filing in post on X:

On Friday, Ramp submitted an application to the Office of the Comptroller of the Currency (OCC) to establish Ramp National Trust Bank. If approved, the charter would allow the trust bank to offer fiduciary investment management and custody of digital assets. The proposed… — Ramp (@tryramp) October 19, 2026

https://x.com/tryramp/status/2112186296504647842?ref_src=twsrc%5Etfw

Ramp has not said when the bank could open. It has also not identified which digital assets it plans to support or said whether the proposed institution would handle stablecoins or crypto trading.

Ramp’s Existing Business and Customer Balances

Ramp currently provides business checking through First Internet Bank of Indiana, an FDIC member. Its Investment Account is operated by Ramp Advisory LLC, while Apex Clearing Corporation handles brokerage and custody. The company did not announce any changes to those partners.

Ramp’s disclosures show more than $5 billion in customer balances across checking and investment accounts as of Oct. 20. Those balances are not held in digital asset custody, and the proposed trust bank has not been approved.

On Oct. 14, co-founders Eric Glyman and Karim Atiyeh said Ramp had reached a $60 billion valuation. They said the company serves 85,000 businesses and has annualized revenue above $2 billion.

Crypto Firms Pursue Similar Charters

Ramp is one of several firms seeking federal trust charters. Rain applied on Oct. 5 for a charter that would cover digital asset custody and stablecoin reserve management. Kraken parent Payward filed on May 8 for a trust company focused on custody for institutional clients. Zerohash submitted a revised application on Aug. 19 after the OCC returned its initial filing in July.

The OCC has already granted conditional approvals to Ripple, BitGo, Paxos and Fidelity Digital Assets. Those companies must satisfy additional requirements before they can begin operating.

The chartering process is facing a legal challenge from the Independent Community Bankers of America. The group sued the OCC on Oct. 2, arguing that the regulator exceeded its legal authority. ICBA is asking a court to invalidate the OCC’s 2026 chartering rule and Interpretive Letter No. 1176.

ICBA chief Rebeca Romero Rainey said consumers could misunderstand the protections offered by these trust banks. The OCC has said its March 2026 rule merely clarified powers that already existed. According to Reuters, the agency declined to comment on the lawsuit. The case does not name Ramp.

Ramp’s application will now undergo OCC review. The regulator may request additional information and impose conditions on any approval. Public comment periods typically last 30 days after a notice is published.

As of Oct. 20, the OCC’s public register did not show a Ramp filing document or a comment deadline. Ramp has not provided a timeline for a decision. The filing’s appearance in the OCC’s public register, followed by the start of the comment period, would mark the next visible steps in the process.

Source: Blockonomi