Key facts
- Galaxy Digital applied for a national trust bank charter with the OCC.
- The proposed bank would be based in New York.
- It would provide digital asset services and fiduciary investment advisory.
- Galaxy Digital has over 50 licenses globally.
- Ripple and Circle have previously received OCC bank charter approvals.
Galaxy Digital announced on Thursday that its subsidiary has applied to the Office of the Comptroller of the Currency (OCC) for a national trust bank charter. The proposed New York-based Galaxy Digital Bank would operate as a federally regulated trust institution, bringing its digital asset custody, trading, and staking services under a single federal framework. This move follows similar approvals granted to other crypto-focused firms by the OCC, aiming to expand services as digital asset adoption accelerates.