Zerohash U.S. Trust License Rejected, Resubmission Planned This Month

OCC returned Zerohash's trust bank license application on July 17. The firm cites administrative reasons and plans to resubmit this month, despite ongoing compliance litigation.

Woofun AI reports that the Office of the Comptroller of the Currency returned Zerohash's application for a U.S. trust bank license on July 17. Zerohash characterizes the decision as an administrative step rather than a substantive denial and intends to resubmit the filing this month, prioritizing approval for national trust activities.

The firm, which provides encryption infrastructure to institutions including BlackRock, Morgan Stanley, and ETrade, previously held a valuation exceeding $1.5 billion. It currently operates as an interstate trust bank but faces a lawsuit from a former chief compliance officer alleging wrongful termination after reporting over 200 compliance issues, with initial arbitration attempts denied.