Compass Investments

Nomura’s Laser Digital unit has petitioned the U.S. OCC for a license to launch a trust bank with a focus on cryptocurrencies.

The bank plans to provide digital asset custody and spot trading services under the full supervision of U.S. regulators.

They’ve joined the wave of crypto companies seeking a banking license after last year’s passage of the GENIUS Act, a law targeting stablecoins.

A crypto-focused subsidiary of Japan’s largest investment bank has joined the growing list of digital asset players seeking the prestigious charter from the U.S. Treasury Department.

Laser Digital, based in Switzerland, is owned by Tokyo-based investment and brokerage giant Nomura Group. Laser announced Tuesday night that it has filed a petition with the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank.

The bank, called Laser Digital National Trust Bank, will specialize in digital assets, offering custody and spot trading services, the company said.

Institutional digital asset markets are entering a new stage defined by scale, regulation and sustainability, Steve Ashley, Laser Digital’s CEO and the proposed head of Laser Digital National Trust Bank, said in a statement.

The U.S. is the most important financial market in the world, and we believe the next chapter of digital finance will be written by organizations ready to operate with this level of oversight and longevity, he adds.

The firm joins numerous crypto companies seeking to take advantage of the Treasury Department’s new, more loyal approach to crypto firms’ applications for banking licenses.

World Liberty Financial, a crypto project associated with Donald Trump’s family, has also submitted a request to the OCC to establish a national trust bank.

The request aims to bring their USD1 stablecoin under direct federal control in the same regulatory category that other crypto firms have recently entered. If approved, an organization called World Liberty Trust Company will be allowed to issue and redeem U…

In recent months, steblecoin issuers including Circle, Ripple, BitGo and Paxos have received national trust bank licenses from the OCC, as has a bank inspired by The Lord of the Rings and backed by Peter Thiel and co-founders Palantir.

A significant number of other cryptocurrency players, including Coinbase, Sony and payment provider Stripe, have petitioned for lucrative banking licenses, which became especially attractive after President Donald Trump signed the GENIUS Act focused on stablecoins last summer. The Trump family’s crypto platform, World Liberty Financial, applied for a banking charter from the OCC earlier this month.