Zero Hash rejected in US trust bank bid

• Zero Hash was reportedly rejected in its bid to become a US trust bank.
• The decision affects a crypto infrastructure company linked to major financial institutions.
• The outcome highlights ongoing regulatory hurdles for crypto firms seeking banking licences.

Zero Hash was reportedly rejected in its bid to become a US trust bank, according to a report by CoinDesk.

The company is a crypto infrastructure provider that works with financial firms, including Morgan Stanley’s infrastructure network.

The reported decision highlights continued regulatory scrutiny of crypto companies seeking banking licences in the United States.

A trust bank licence can allow firms to provide custody and other financial services under a regulated banking structure.

The report said Zero Hash had sought approval as part of its broader regulatory strategy.

Zero Hash provides crypto settlement, custody, and infrastructure services for financial institutions and fintech companies.

The reported rejection highlights the challenges crypto infrastructure firms continue to face when seeking expanded banking status in the United States.