Payward files OCC trust charter for crypto custody
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- Payward filed an application with the Office of the Comptroller of the Currency (OCC) for a national trust company charter.
- Payward National Trust Company (PNTC), if approved, would provide federally regulated fiduciary custody services for digital assets, primarily to institutional clients.
- Kraken Financial’s Wyoming SPDI charter and its Federal Reserve master account would be supplemented by the new federal trust, creating a multi‑charter regulatory footprint.
- Payward has been expanding through acquisitions, including a $1.5 billion purchase of NinjaTrader, a potential $550 million deal for Bitnomial, and a $600 million acquisition of Reap Technologies.
Why it matters: Institutional investors gain bank‑level crypto custody protection, while unregulated crypto custodians lose market share; the OCC charter unlocks broader adoption of digital assets, driving $1‑plus billion in new custodial revenue for Payward.
