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Cryptocurrency company Laser Digital, backed by Nomura, has applied for a US banking license, with the aim of bringing more of its financial services business to the financial world.
I mentioned The Financial Times reported that the request was made on Tuesday by the Office of the Comptroller of the Currency, seeking a National Trust Bank Charter that would give Laser Digital a federal option instead of forcing it to obtain state and federal depository certificates.
The report said that Laser Digital, which Nomura issued in 2022, plans to offer digital sales under the system, and does not plan to accept direct deposits.
The request comes as many fintech and cryptocurrency companies face a friendlier license climate in Washington under President Donald Trump, and license applications rise as companies try to move payments, storage, and use of stablecoins under federal control.
The process of obtaining a bank license from the Office of the Comptroller of the Currency (OCC) can take more than a year.
The Office of the Comptroller of the Currency (OCC) charter is usually established in two stages, starting with a permanent permit, then going to the final approval after the applicant has shown that he has money and is ready to run a bank, a process that can last more than a year.
That’s a change from the previous administration, where applicants often had trouble getting past the initial stage, and some dropped out rather than wait for a lengthy review.
Laser Digital is not the only company participating in the competition. World Liberty Financial, which is affiliated with Trump, announced earlier this month that its organization has requested a national bank license from the Office of the Comptroller of the Currency (OCC) related to stablecoin operations.
In Europe, Revolut has also changed its strategy, abandoning plans to buy a US lender, and instead plans to apply for a US banking license.
The Federal Deposit Insurance Corporation (FDIC) is paving the way for new corporate-owned banks.
Even outside of fintech, this is growing. The Federal Deposit Insurance Corporation recently approved deposit insurance policies from Ford and General Motors, paving the way for automakers to set up industrial banks in Utah.
A new leadership team has been installed in the Office of the Treasurer, and Jonathan V. Gould will be sworn in as Treasurer in July 2025.
The numbers show how interest is growing. Freshfields reported that the Office of the Comptroller of the Currency (OCC) received 14 applications for de novo charters in 2025 for a limited number of national banks, nearly the same number of applications from the previous four years combined.
A note Nomura’s cryptocurrency arm Laser Digital seeks US banking charter: report appeared for the first time Cryptonews Arabic.
