Laser Digital Moves Toward US Banking License in Regulatory Shift Era

Nomura-backed Laser Digital has applied for a US national trust bank charter, joining a growing list of crypto and fintech firms aiming to operate under federal banking regulations.

Key Takeaways

• Laser Digital filed for a national trust bank charter with the Office of the Comptroller of the Currency (OCC), allowing nationwide operations without state-level licenses.
• The move comes amid a broader trend of crypto firms seeking federal charters as the US regulatory climate turns more favorable.
• At least 14 such applications were filed in 2025, nearly matching the total from the previous four years combined.
• Trump-era policies and appointments are accelerating charter approvals, drawing both crypto and traditional firms into the banking arena.

What Happened?

Laser Digital, the digital asset subsidiary of Japanese banking giant Nomura, has officially applied for a national trust bank charter in the United States. This strategic move would allow the firm to offer cryptocurrency trading services across the US without needing separate state licenses. The license would not permit Laser Digital to take retail deposits but would authorize federal-level custodial and trading services.

A Surge of Charter Applications

Laser Digital’s filing aligns with a broader surge in banking charter applications from crypto-native and fintech firms. These entities are pursuing trust charters to bring trading, custody, and settlement services under the purview of federal regulation.

According to legal data from Freshfields, 14 applications for national trust bank charters have been filed in 2025 alone, nearly equaling the number filed across the previous four years. This rush suggests a growing appetite for federally regulated operations among digital asset companies.

The approval process for these charters typically involves:

• Preliminary approval within four months.
• Final approval after the firm meets capital and operational standards, a stage that can take over a year.

Regulatory Climate Under Trump Administration

The regulatory momentum appears to be driven by the Trump administration’s more permissive approach to banking charters. OCC Comptroller Jonathan Gould, who took office in July following a Trump nomination, has been instrumental in speeding up the approval process.

Just last month, the OCC issued conditional trust bank charters to five crypto firms: Circle, Ripple, BitGo, Paxos, and Fidelity Digital Assets. These approvals are conditional upon meeting federal requirements, but they represent a clear shift toward crypto-friendly oversight.

Other recent entrants in the charter race include:

• World Liberty Financial (WLFI), backed by the Trump family, which filed for a trust bank charter on January 7 to support its USD1 stablecoin.
• Revolut, a European neobank, which resumed its OCC application after scrapping plans to acquire a US bank.
• Anduril’s Palmer Luckey, who received approval in October for a trust bank aimed at digital assets, AI, and defense clients.

Traditional companies are also entering the fray. Ford and General Motors both gained FDIC approval in January to launch banks that could help lower funding costs for their financial arms.

Legislative Challenges in Parallel

While charters advance, legislative uncertainty continues to complicate crypto’s regulatory environment. The Senate Banking Committee recently delayed a markup of the CLARITY Act after Coinbase withdrew its support, citing concerns over:

• Restrictions on tokenized equities.
• Expanded DeFi surveillance provisions.
• The elimination of stablecoin reward programs.

Traditional banks have pushed back on stablecoin yields, warning that high returns on dollar-pegged tokens could lead to deposit flight and impact lending capabilities.

This ongoing uncertainty has left market structure issues unresolved, pushing firms like Laser Digital to secure regulatory clarity through federal banking licenses instead.

CoinLaw’s Takeaway

I see Laser Digital’s OCC application as more than just a regulatory formality. It’s a strategic shift signaling how seriously crypto firms are pursuing legitimacy in the US financial system. In my experience watching this space evolve, when traditional banking giants like Nomura move into federally regulated crypto services, it’s a strong sign the tides are changing. With federal charters offering a clear path around fragmented state laws, I believe we’ll see even more crypto-native firms follow suit. If you’re in digital finance, this moment matters.

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