Nomura's cryptocurrency subsidiary Laser Digital has applied for a national bank trust charter with the Office of the Comptroller of the Currency this week.
The FT reported the filing Tuesday citing people familiar with the matter.
The Switzerland-based firm would offer spot cryptocurrency trading for digital assets without taking direct deposits. The OCC license eliminates requirements for state-by-state custody permits allowing federal-level operation.
Laser Digital becomes the latest entrant in an accelerating wave of crypto firms and fintechs seeking banking charters under the Trump administration's regulatory approach. The firm declined to comment on the application.
Banking Charter Applications Accelerate
OCC data from law firm Freshfields shows 14 applications for limited-purpose national trust bank charters in 2025. This number nearly matches the total from the prior four years combined.
The two-stage approval process involves preliminary authorization within approximately four months followed by final approval once capital requirements and operational credibility are demonstrated. The second phase can exceed one year.
Trump administration regulators have shown greater willingness to grant preliminary approvals compared to the Biden-era OCC which maintained stricter standards. Many Biden-era applicants withdrew applications rather than face rejection.
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Regulatory Environment Shifts
World Liberty Financial (WLFI), controlled by the Trump family, filed for a national trust bank charter January 7. European fintech Revolut plans to file an OCC application after abandoning acquisition plans for a US lender.
Ford and General Motors received FDIC approval last week to establish banks providing access to lower-cost funding than traditional manufacturing subsidiaries.
Anduril co-founder Palmer Luckey received OCC approval in October for a bank focused on digital assets, AI, defense, and manufacturing clients.
OCC Comptroller Jonathan Gould, sworn in July after Trump nomination, oversees the accelerated approval pace. The OCC granted conditional trust bank charters to five cryptocurrency companies in December 2025 including Circle (USDC), Ripple (XRP), BitGo, Paxos, and Fidelity Digital Assets.
Legislative Delays Complicate Market Structure
The banking charter surge occurs as comprehensive cryptocurrency legislation faces obstacles. Senate Banking Committee delayed a January 15 markup of the CLARITY Act after Coinbase withdrew support January 14.
Coinbase CEO Brian Armstrong cited provisions restricting tokenized equities, expanding government access to financial data through DeFi regulations, and eliminating stablecoin rewards programs. Bank lobbyists opposed stablecoin reward provisions arguing yield-bearing tokens threaten traditional deposit bases.
Traditional banking groups warn that allowing higher interest rates on dollar-pegged tokens compared to bank accounts will trigger deposit flight reducing lending capacity.
The legislative impasse leaves market structure questions unresolved as firms pursue federal banking licenses.
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