Corporate finance platform Ramp has applied to the Office of the Comptroller of the Currency for a national trust bank charter, the company said on Monday. The application, filed on October 16, would establish Ramp National Trust Bank to offer fiduciary investment management and custody of digital assets under federal supervision. The proposed bank will not take deposits or make commercial loans, Ramp said.
A charter would give Ramp a federal licence of its own. The company describes itself as a financial technology firm, not a bank, and currently relies on partners: checking deposits sit at First Internet Bank of Indiana, and its investment account is managed by Moment Advisors with assets held at Apex Clearing. Ramp said the charter would bring the new services under a consistent federal regulatory framework, and that existing partner arrangements stay unchanged. It has not said which digital assets it would custody, or when the bank might launch.
Ramp reports about 85,000 business customers, annualized revenue above 2 billion dollars and a valuation of 60 billion dollars in its latest funding round, figures carried across the reporting.
It joins a lengthening queue. More than 30 companies applied to become US banks in 2025, including Interactive Brokers and PayPal, and in payments Stripe owned Bridge won conditional OCC approval in February for a national trust bank, while Circle received final approval in July. The Independent Community Bankers of America sued the OCC on October 2, disputing its authority to grant such charters, so Ramp’s application lands inside an unresolved legal challenge to the route itself.