Payward seeks OCC trust charter to expand U.S. crypto custody business

Traders Union
All News
Crypto News
Payward OCC trust charter

Highlights

Payward applied for an OCC national trust charter to launch Payward National Trust Company, targeting institutional digital-asset custody under federal regulation.
The new trust charter complements Kraken Financial, which since 2020 has offered direct access to the U.S. payments system via a Federal Reserve master account.
Payward is accelerating M&A with a $1.5 billion NinjaTrader acquisition, a Bitnomial deal up to $550 million, and a $600 million Reap Technologies purchase targeting Asia payments.

Federal charter plan expands custody strategy

As first reported by CoinDesk, Payward says the proposed charter would create Payward National Trust Company, a federally regulated entity focused on fiduciary custody and related digital-asset services. The trust would mainly serve institutions and other clients seeking bank-level custody protections under OCC oversight.

The application marks the latest step in Payward’s effort to widen its U.S. regulatory footprint as digital-asset companies pursue traditional financial charters to attract institutional business. In a statement, Payward and Kraken Co-CEO Arjun Sethi says a national trust company provides the certainty institutions require and helps build the infrastructure for the next generation of custody.

Under the proposal, the new trust company would rely on Payward’s existing compliance, risk management and custody systems. The company says the OCC filing fits into a broader multi-charter strategy designed to offer regulated financial services under both state and federal oversight.

Broader banking and deal expansion

The proposed trust company complements Kraken Financial, the Wyoming special purpose depository institution chartered in 2020. That entity becomes the first digital-asset bank to secure a Federal Reserve master account, giving it direct access to the U.S. payments system.

The filing also comes as crypto firms increasingly seek federal charters, licenses and banking approvals under a more industry-friendly U.S. regulatory approach. National trust charters overseen by the OCC have drawn interest from crypto-native firms looking for broader legitimacy and nationwide operations without relying only on state-by-state licensing.

Payward is also expanding through acquisitions ahead of a potential IPO. The group bought retail futures platform NinjaTrader for $1.5 billion in 2025, agreed in April to acquire crypto derivatives exchange Bitnomial for up to $550 million, and this week struck a $600 million deal for Hong Kong-based payments firm Reap Technologies to expand stablecoin-powered cross-border payments and card infrastructure in Asia.

Our earlier analysis of Coinbase’s Q1 2026 results highlighted mounting operational pressure, including a GAAP net loss and falling revenue, alongside a cost-cutting push with layoffs and AI-driven restructuring. We also noted the company’s effort to lean into institutional and enterprise demand through new payment partnerships, while COIN traded in a cautious, range-bound technical setup.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.