Ramp applies for a national trust bank license from the OCC, aiming to provide digital asset custody services
Enterprise financial services platform Ramp tweeted that it submitted an application to the Office of the Comptroller of the Currency (OCC) on October 16 to establish Ramp National Trust Bank. If approved, the trust bank would be able to provide fiduciary investment management and digital asset custodial services, but would not take deposits or make commercial loans. Ramp previously raised $1.85 billion in a new funding round led by Dragoneer Investment Group in October 2026, valuing the company at $60 billion, with Thrive Capital, Founders Fund, Sands Capital and Avenir co-leading.
Ramp's OCC application to form a national trust bank signals a regulated on-ramp for digital asset custody, which strengthens institutional adoption expectations because a federal charter would reduce counterparty and regulatory risk for custodial services; this improves crypto market sentiment, especially for BTC and ETH as primary custody assets, short-term bullish (medium).