Payward, the parent company of crypto exchange Kraken, has applied for a national trust company charter with the U.S. Office of the Comptroller of the Currency (OCC). If approved, the charter would establish Payward National Trust Company (PNTC), a federally regulated entity focused on fiduciary custody and related services for digital assets. Kraken said the trust would primarily serve institutions and customers seeking bank-level custody protections under OCC oversight. This filing is part of Payward's broader "multi-charter" strategy, which already includes Kraken Financial, a Wyoming special purpose depository institution (SPDI) chartered in 2020. Kraken Financial was the first digital-asset bank to secure a Federal Reserve master account. The proposed OCC trust charter would complement this state-level charter, allowing Payward to offer different types of regulated financial services under both state and federal oversight. For wallet and key holders, the move signals growing institutional demand for federally regulated custody solutions, which could lead to higher security standards and insurance protections for digital assets. However, increased regulatory oversight may also mean stricter compliance requirements for users, such as enhanced KYC procedures. The development underscores a trend where crypto firms are seeking traditional financial charters to attract institutional clients and navigate the evolving U.S. regulatory landscape under the Trump administration.

Key facts

• Payward applies for OCC national trust company charter for crypto custody.
• Proposed PNTC would offer federally regulated fiduciary custody for institutions.
• Payward already holds Wyoming SPDI charter and Fed master account.
• Application follows acquisitions totaling over $2.6 billion in 2025-2026.
• Part of broader multi-charter strategy to offer regulated services.