Fintech Ramp applies for OCC trust bank charter to expand asset services

Financial technology firm Ramp has formally submitted an application to the Office of the Comptroller of the Currency to establish Ramp National Trust Bank, marking the company’s latest strategic move into the federally regulated financial sphere. If approved by regulators, the national trust bank charter would permit the corporate spend management startup to provide fiduciary investment management and custody services for digital assets directly under a unified federal framework.

The proposed entity is specifically structured as a non-depository institution, meaning it will forgo traditional commercial lending and deposit-taking in favor of specialized fiduciary operations. By establishing a dedicated federal charter, Ramp aims to deepen its corporate asset management capabilities while continuing to scale its broader suit of expense management tools alongside existing banking partners.

The expansion comes against the backdrop of rapid operational scaling and a sharp increase in private market valuation for the fintech firm. Ramp was recently valued at $60 billion in its latest funding round, according to Bloomberg, supported by an annualized revenue trajectory that has surged to $2 billion.

By seeking a national trust charter, Ramp joins a selective cohort of modern financial technology startups attempting to bring novel digital asset infrastructure under direct OCC oversight. Operating within this federal umbrella enables the firm to offer enterprise clients institution-grade custody solutions while streamlining compliance requirements across state lines.

For investors and corporate clients, the application signals Ramp's intention to broaden its treasury management ecosystem beyond software and credit lines into institutional asset custody. Market participants will likely watch the OCC's review process closely, as federal approval would establish a clearer operational pathway for fintech firms integrating digital asset services into enterprise financial software.