Kraken parent Payward files for an OCC national trust charter to expand regulated digital asset custody services across the United States.
A major crypto company is moving deeper into regulated finance. Kraken Parent Payward Files for OCC National Trust Charter to expand digital asset custody services. Moreover, the shift might enhance the trust between institutions that are dealing with cryptocurrencies.
Payward Expands Regulated Crypto Custody Plans
Kraken parent company Payward announced a new application with the Office of the Comptroller of the Currency. Further, the company desires approval of a national trust company charter. Therefore, the proposed entity would be Payward National Trust Company.
Payward Applies for OCC Trust Charter to Expand Kraken’s Regulated Crypto Custody Business
Payward, the parent company of Kraken, has applied for a national trust company charter with the OCC to establish Payward National Trust Company (PNTC), a federally regulated entity… pic.twitter.com/ObmhoihoAP
— Wu Blockchain (@WuBlockchain) May 8, 2026
Also, the new firm would offer federally regulated digital asset custody services. This meant that institutions and individual clients might be able to enjoy bank-level protections for cryptocurrencies. In addition, the charter would give the OCC direct control over operations.
Reading more: Kraken Parent Payward Pauses IPO Plan After Crypto Market Slowdown – Ledger Tribune
In the meantime, the application will complement Payward’s overall regulatory approach in the United States. The company is thus continuing to grow its compliance-driven business model. This could lead to increased institutional investment in the company for safe custody solutions.
OCC Charter Could Strengthen Institutional Confidence
The proposed trust company will be designed to serve both institutions and retail customers. Furthermore, numerous big investors are now looking for regulated storage of digital assets. Payward thus hopes that the charter will help to build trust in crypto custody services.
Also, Arjun Sethi said the trust company is an important infrastructure measure, he added. He said that institutions need certainty and secure custody systems. The company therefore thinks that regulated services will be able to help with the next phase of crypto growth.
In the meantime, the OCC charter would complement Kraken Financial. The company would thus have several regulated financial institutions. Moreover, this method may enable Payward to compete with the traditional financial institutions that are entering the crypto space.
Kraken Financial Continues Expanding U.S. Presence
The new filing comes on the heels of another significant milestone earlier this year. Kraken Financial was awarded a Federal Reserve master account in March 2026. The company thus obtained direct access to the U.S. payments system.
Furthermore, Kraken Financial is a Special Purpose Depository Institution under Wyoming’s charter. So, it is already operating in a regulated banking system for digital assets. Moreover, this structure enables the company to provide niche financial services.
In the meantime, Payward considers the OCC charter as a supplement to its Wyoming operations. Consequently, the company is still developing several layers of regulatory clearance.
Acquisition Strategy Supports Future Growth
The OCC application came in the wake of another big company relocation. Payward recently signed a $600 million contract to buy Reap Technologies. Furthermore, the acquisition is geared towards payment and card issuance expansion.
Further, the agreement seeks to enhance the cross-border payment services for customers. Payward is thus expanding its crypto-finance ecosystem. In addition, payments and custody services could offer new growth opportunities.
At the same time, numerous cryptocurrency firms are attempting to improve their ties with regulators around the globe. This has led to a growing demand for licensing and banking approvals by firms. As such, Payward’s approach is part of a broader trend in the digital finance sector of regulation.
Crypto Industry Pushes Toward Mainstream Finance
The crypto industry has undergone a lot of evolution in the past few years. Furthermore, institutions are now seeking for more robust regulation and security measures before they venture into digital asset markets.
Furthermore, regulated custody services can contribute to the broader acceptance of cryptocurrencies around the world. This means that there is the potential for more banks and corporations to consider financial products based on blockchain.
In conclusion, Kraken Parent Payward Files for OCC National Trust Charter during an important period for the crypto industry. Additionally, the transfer bolsters Payward’s regulated financial network in the U.S. market. So, the company could be more involved in the future of institutional digital asset services.