Short Description
Nomura-backed Laser Digital applies for a US national bank charter, joining a crypto rush into the banking system amid a shifting regulatory landscape.
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3 minutes, 15 seconds
Main Article
Laser Digital, a major digital asset firm owned by Japan’s Nomura, has officially filed an application for a US national bank trust charter with the Office of the Comptroller of the Currency (OCC). This strategic move aims to secure a federal-level operating license, allowing the company to bypass complex state-by-state regulatory approvals for services like digital asset custody and trading. According to reports, the Swiss-based company plans to offer spot trading for digital assets but will not accept customer deposits, positioning it as a specialized financial services provider rather than a traditional bank. This application signals a significant push by institutional crypto players to integrate deeper into the core of the US financial system.
The US national bank charter application from Laser Digital is part of a broader trend. Under the current regulatory environment, several prominent digital asset companies have sought or secured similar charters. In December, the OCC conditionally approved charters for five firms, including heavyweights like Paxos Trust Company, Fidelity Digital Assets, and a bank linked to Circle. This wave of approvals marks a shift from exploration to concrete action, with companies like Ripple and BitGo also in the queue. The process itself is rigorous, involving preliminary and final approval stages that can take up to a year, requiring applicants to demonstrate strong capital and operational integrity.
However, this integration faces resistance from traditional finance. Groups like the American Bankers Association have expressed “significant policy and process concerns,” warning that granting bank licenses to crypto firms could undermine established banking safeguards. Despite this opposition, the momentum is building, highlighted by applications from firms like Trump-affiliated World Liberty Financial. The growing list of applicants underscores a pivotal moment where the crypto regulatory environment is becoming more defined, offering a path for compliant firms to operate with greater legitimacy and scale on a national stage.
Short Summary
Laser Digital’s application for a US national bank charter exemplifies the crypto industry’s strategic push for federal legitimacy. This move, part of a wider trend including approvals for firms like Paxos and Fidelity, highlights a more permissive regulatory shift. However, it continues to draw scrutiny from traditional banking groups concerned about industry safeguards.
