ImportantRamp Applies for Trust Bank Charter from the U.S. OCC

Fintech firm Ramp has submitted an application to the Office of the Comptroller of the Currency (OCC) of the United States to establish Ramp National Trust Bank. Ramp stated on X that if the application is approved, the trust bank will provide fiduciary investment management and digital asset custody services, and will not accept deposits or issue commercial loans. Since the start of this year, companies including Revolut and Crypto.com have received conditional approvals for different types of charters from the OCC. Earlier Bloomberg reports indicated that Ramp reached a valuation of $60 billion in its latest funding round, with annualized revenue rising to $2 billion.

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